! 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. Date March 1 Activities Units Acquired at Cost Units Sold at Retail Beginning inventory 100 units March 5 Purchase 400 units @ $50 per unit @ $55 per unit March 9 Sales 420 units @ $85 per unit March 18 Purchase March 25 March 29 Purchase Sales 120 units 200 units @ $60 per unit @ $62 per unit Totals 820 units 160 units 580 units @ $95 per unit 3. 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.