Required information Problem 6-2AA (Algo) Periodic: Alternative cost flows LO P3 [The following information applies to the questions displayed below.) Warnerwoods Company uses a periodic inventory system. It entered into the following purchases and sales transactions for March. Units Sold at Retail Units Acquired at Cost 165 units @ $55 per unit 465 units @ $60 per unit Date March 1 March 5 March 9 March 18 March 25 March 29 485 units @ $90 per unit Activities Beginning inventory Purchase Sales Purchase Purchase Sales Totals 250 units 330 units @ $65 per unit @ $67 per unit 290 units @ $100 per unit 775 units 1,210 units For specific identification, units sold include 70 units from beginning inventory, 415 units from the March 5 purchase, 105 units from the March 18 purchase, and 185 units from the March 25 purchase. Problem 6-2AA (Algo) Part 1 Required: 1. Compute cost of goods available for sale and the number of units available for sale. Cost of Goods Available for Sale # of Units Cost per Cost of Goods Available Unit for Sale Beginning inventory Purchases: March 5 March 18 March 25 Total 2. Compute the number of units in ending inventory. Ending inventory units 3. Compute the cost assigned to ending inventory using (6) FIFO. (6) LIFO. (c) weighted average, and (d) specific identification. (Round your "average cost per unit" to 2 decimal places.) a) Periodio FIFO Cost of Goode Available for Sale Cost of Gooda Sold Ending Inventory #of unite Cost per unit Cost of Goods Avallable for Sale #of unitecost per sold unit Coat of Goode Sold # of unite In ending Inventory cost per unit Ending Inventory Beginning inventory Purchases. March 5 March 18 March 25 Total by Periodic LIFO Coat of Goods Sold Ending Inventory Cost of Goods Avaliable for Sale Cost of #of units Coat per Goode unit Avallable for Sale # of unito sold Cost per unit Coat of Goods Sold cost per # of units in ending Inventory unit Ending Inventory Beginning inventory Purchases March 5 March 18 March 25 Total c) Average Coet Cost of Goode Sold Ending Inventory Cost of Goode Avaliable for Sale Cost of Average Goode #of units Cost per unit Available for Sale # of unite sold Average Cost per Unit Coat of Goode Sold # of units in ending Inventory Average Cost per unit Ending Inventory Beginning inventory Purchases: March 5 March 18 March 25 Total o Specific identification Cost of Goode Avaliable for Sale Cost of Gooda Sold Ending Inventory #of unita cost per Cost of Goods Available for Sale #of unite Cost per sold unit Coat or Goods Sold unit # of units in ending Inventory cost per unit Ending Inventory Beginning inventory Purchases: March 5 March 18 March 25 Total 4. Compute gross profit earned by the company for each of the four costing methods. (Round your average cost per unit to 2 decimal places and final answers to nearest whole dollar.) FIFO LIFO Weighted Average Specific Identification Sales Less: Cost of goods sold Gross profit