Required information Problem 6-2AA 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 Date Activities Mar. 1 Beginning inventory Mar. 5 Purchase MAC. 9 Sales Mar. 18 Purchase Mar. 25 Purchase Mar. 29 Sales Totals Units Acquired at Cost 195 units $85 per unit 495 units e $90 per unit 310 units & $95 per unit 390 units e $97 per unit 515 unitse $120 per unit 350 units # $130 per unit 365 units 1, 390 units For specific identification, the March 9 sale consisted of 60 units from beginning in entory and 455 units from the March 5 purchase the March 29 sale consisted of 135 units from the March 18 purchase and 215 units from the March 25 purchase. Problem 6-2AA Part 1 Required. 1. Compute cost of goods available for sale and the number of units available for sale Problem 6-2AA 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 Cost of Goods Available # of Units Unit for Sale Cost per Beginning inventory Purchases: March 5 March 18 March 25 Total Problem 6-2AA Part 2 2. Compute the number of units in ending inventory. units Ending inventory Problem 6-2AA Part 3 3. Compute the cost assigned to ending inventory using (a) FIFO. (b) LIFO. (c) weighted average, and (d) specific identification (Round your average cost per unit to 2 decimal places.) a) Periodic FIFO Cost of Goods Sold Ending Inventory Cost of Goods Available for Sale Cost of # of units Goods for Sale Cost per Cost per # of units sold Cost per unit Cost of Goods Sold # of units in ending Inventory Ending Inventory unit Available unit Beginning inventory Purchases March 5 March 18 March 25 Total b) Periodic LIFO Cost of Goods Sold Cost of Goods Available for Sale Cost of Cost per Goods # of units unit Available for Sale Ending Inventory # of units Cost per in ending Ending unit Inventory Inventory w of units sold Cost of Goods Sold Cost per unit Beginning inventory Problem 6-2AA Part 4 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