Required information Problem 6-1A Perpetual: Alternative cost flows LO P1 The following information applies to the questions displayed below.] Warnerwoods Company uses a perpetual inventory system. It entered into the following purchases and sales transactions for March Activities Date Mar. 1 Beginning inventory Mar. 5 Purchase Mar. 9 Sales Mar. 18 Purchase Mar. 25 Purchase Mar. 29 Sales Units Acquired at Cost 210 units $53.20 per unit 280 units $58.20 per unit Units Sold at Retail 370 units$88.20 per unit 140 units $63.20 per unit 260 units $65.20 per unit 240 units$98.20 per unit 610 units Totals 890 units Problem 6-1A Part 3 3. Compute the cost assigned to ending inventory using (a) FIFO, (b) LIFO, (c) weighted average, and (d) specific identification. For specific identification, the March 9 sale consisted of 120 units from beginning inventory and 250 units from the March 5 purchase; the March 29 sale consisted of 100 units from the March 18 purchase and 140 units from the March 25 purchase Compute the cost assigned to ending inventory using FIFO Perpetual FIFO: s Purchase Cost of Goods Sold Inventory Balance St perl #0f units Costper! Cost of Goods Sold! Cost perInventory Balance 0 Date #Of units units unit sold unit unit March 1 210S53.20 11,172.00 210| @ | $53.20 | = | $ 11.172.00 280| @ | $58.201 = | 16.296.00 $ 27,468.00 March 5 280$58.20 a $53.20 a $58.20 March 9 0 $53.20S $58.20 0.00 0.00 March 18 140$63.20 a $53.20 a $58.20 63.20 March 25 260@ 65.20 a $53.20 a $58.20 a $63.20 @ $65.20 March 29 Totals 0.00 Compte the cost assigned to ending inveoy sing LIFO Perpetual LIFO: Cost of Goods Sold Inventory Balanc ! #of units sold Costper Cost of Goods Cost perInventory Balance 0 Cost per unit # of units Date Solo units unit unit March 1 210S53.20 S 11,172.00 March 5 March 9 March 18 March 25 March 29 Totals 0.00 Compute the cost assigned to ending inventory using weighted average. (Round your average cost per unit to 2 decimal places Weighted Average Peretual: oods Purchase st of Goods Sold Inventory Balance ! #of units sold |Costper|Cost of Goods Sold! 0 Cost per Cost per unit unit Inventory Balance 210|@| $53.201=1 $ 11.172.00 Date #Of units units unit March 1 March 5 Average March 9 March 18 Average March 25 March 29 Totals 0.00 Compute the cost assigned to ending inventory using specific identification. For specific identification, the March 9 sale consisted of 120 units from beginning inventory and 250 units from the March 5 purchase; the March 29 sale consisted of 100 units from the March 18 purchase and 140 units from the March 25 purchase as #of units of Goods Sold Cost # of units sold Cost per unit Cost per Inventory Balance Date # of units unit unit March 1 210 S53.2011,172.00 March 5 March 9 March 18 March 25 March 29 Totals 0.00 FIFO Gross Margin Sales Less: Cost of goods sold Gross profit LIFO Avg. Cost Spec. ID