! 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. Units Sold at Retail Units Acquired at Cost 90 units @ $50.80 per unit 220 units @ $55.80 per unit Date March 1 March 5 March 9 March 18 March 25 March 29 250 units @ $85.80 per unit Activities Beginning inventory Purchase Sales Purchase Purchase Sales Totals 80 units @ $60.80 per unit 140 units @ $62.80 per unit 120 units @ $95.80 per unit 370 units 530 units 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 60 units from beginning inventory, 190 units from the March 5 purchase, 40 units from the March 18 purchase, and 80 units from the March 25 purchase. Perpetual FIFO: Goods Purchased Cost of Goods Sold Date Cost per unit # of units # of units sold Cost per cost of Goods Sold Inventory Balance Cost per # of units Inventory unit Balance 90 at $ 50.80 $ 4,572.00 unit March 1 March 5 Total March 5 March 9 Total March 9 March 18 Total March 18 March 25 Total March 25 March 29 Total March 29 Totals Perpetual LIFO: Cost of Goods Sold # of units Cost per Cost of Goods Sold sold unit Goods Purchased Cost per # of units unit Date Inventory Balance Cost per # of units Inventory unit Balance 90 at $ 50.80 $ 4,572.00 March 1 = March 5 Total March 5 March 9 Total March 9 March 18 Total March 18 March 25 Total March 25 March 29 Total March 29 Total March 25 March 29 Total March 29 Totals Perpetual FIFO Perpetual LIFO Weighted Average Specific Id Compute the cost assigned to ending inventory using specific identification. For specific identification, units sold include 60 units from beginning units from the March 5 purchase, 40 units from the March 18 purchase, and 80 units from the March 25 purchase. Specific Identification Goods Available for Sale Cost of Goods Sold Ending Inventory Date Cost per Cost per # of units Cost per unit Cost of Goods Available for Sale # of units sold Cost of Goods Sold # of units in ending inventory Ending Inventory unit unit March 1 March 5 March 18 March 25 Total