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Required information [ The following information applies to the questions displayed below. ] Warnerwoods Company uses a perpetual inventory system. It entered into the following

Required information
[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.
Compute the cost assigned to ending inventory using (a) FIFO, (b) LIFO, (c) weighted average, and (d) specific identification. For
specific identification, units sold include 80 units from beginning inventory, 340 units from the March 5 purchase, 40 units from the
March 18 purchase, and 120 units from the March 25 purchase.
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Compute the cost assigned to ending inventory using FIFO.
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