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 Units Acquired at Cost 155 units @ $45 per unit 455 units @ $50 per unit 475 units @ $80 per unit Date Activities Mar. 1 Beginning inventory Mar. 5 Purchase Mar. 9 Sales Mar. 18 Purchase Mar. 25 Purchase Mar. 29 Sales Totals 230 units @ $55 per unit 310 units @ $57 per unit 270 units @ $90 per unit 745 units 1,150 units For specific identification, the March 9 sale consisted of 50 units from beginning inventory and 425 units from the March 5 purchase; the March 29 sale consisted of 95 units from the March 18 purchase and 175 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. Cost of Goods Available for Sale # of Units # of Units Cost per cost of Goods Available Unit for Sale Beginning inventory Purchases: March 5 March 18 March 25 Total Problem 6-2AA Part 2 2. Compute the number of units in ending inventory. Ending inventory units Problem 6-2AA Part 3 3. Compute the cost assigned to ending inventory using (a) FIFO. LIFO. (weighted average, and Identification (Round your average cost per unit to 2 decimal places.) specific Periode Fe Cost of of Cost of Goods Available Cost of Goods Sold for Sale Ending Inventory of of Cost Cost ofl Cost Goods per units per unit Availah units Ending Goods units in for Salel sold Inventa unit Sold ending linventory unit $ 0 S 0.00 S 0 S 0.00 S O Beginning inventory Purchases: March 5 March 18 March 25 Total S0. 000 S 0.001 of .000 $ 0.00 $ 0.00 per inventory unit b) Periodic LIFO Cost of Goods Available for Sale ailable Cost of Goods Sold Ending Inventory Cost of #of Cost Goods of Cost Cost of #of Ending units per Goods units in per unit Available units unit Sold ending Invento I for Salel sold Beginning Inventory Purchases March 5 March 18 March 25 Total Cost of of Cost Goodsanding Ending Inventory # of Average units in Cost Ending ending per Invento inventory unit per c) Average Cost Cost of Goods Available Cost of Goods Sold for Sale Average cost of of Average #of Cost 19 Goods i lah units units per unit Available sold per Sold for Salelse Unit Beginning inventory Purchases March 5 March 18 March 25 Total d) Specific Identification cost of Goods Available Cost of Goods Sold Ending Inventory for Sale Cost of of Cost Cost of units in Cost Goods units per Goods per Invento units per unit Available sold unit Sold unit for Salel of Cost Ending of 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