! 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 160 units @ $52.20 per unit 255 units @ $57.20 per unit 320 units @ $87.20 per unit Date Activities Mar. 1 Beginning inventory Mar. 5 Purchase Mar. 9 Sales Mar. 18 Purchase Mar. 25 Purchase Mar. 29 Sales Totals 115 units @ $62.20 per unit 210 units @ $64.20 per unit 190 units @ $97.20 per unit 510 units 740 units 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 2. Compute the number of units in ending inventory. Ending inventory units 3. Compute the cost assigned to ending inventory using (a) FIFO, (b) LIFO, (C) weighted average, and (d) specific identification. For specific identification, the March 9 sale consisted of 95 units from beginning inventory and 225 units from the March 5 purchase; the March 29 sale consisted of 75 units from the March 18 purchase and 115 units from the March 25 purchase. Complete this question by entering your answers in the tabs below. Perpetual FIFO Perpetual LIFO Weighted Average Specific Id Compute the cost assigned to ending inventory using FIFO. Perpetual FIFO: Cost of Goods Sold Goods Purchased # of Cost per units unit Date # of units sold Cost per Cost of Goods Sold Inventory Balance Cost # of units Inventory per unit Balance 160 @ $52.20 = $ 8,352.00 unit March 1 March 5 March 9 March 18 March 25 March 29 Totals $ 0.00 Perpetual FIFO Perpetual LIFO > Perpetual FIFO Perpetual LIFO Weighted Average Specific Id Compute the cost assigned to ending inventory using LIFO. Perpetual LIFO: Goods Purchased # of Cost per units unit Cost of Goods Sold Cost per Cost of Goods Sold unit # of units sold Date Inventory Balance Cost Inventory # of units Balance 160 @ $ 52.20 = $ 8,352.00 per unit March 1 March 5 March 9 March 18 March 25 March 29 Totals $ 0.00 Perpetual FIFO Perpetual LIFO Weighted Average Specific Id Compute the cost assigned to ending inventory using weighted average. (Round your average cost per unit to 2 decimal places.) Weighted Average Perpetual: Goods Purchased Cost of Goods Sold Date # of units Cost per unit # of units sold Cost per cost of Goods Sold unit Inventory Balance Cost # of units per unit Inventory Balance 160 @ $52.20 = $ 8,352.00 March 1 March 5 Average March 9 March 18 Average March 25 March 29 Totals $ 0.00 Perpetual FIFO Perpetual LIFO Weighted Average Specific Id Compute the cost assigned to ending inventory using specific identification. For specific identification, the March 9 sale consisted of 95 units from beginning inventory and 225 units from the March 5 purchase; the March 29 sale consisted of 75 units from the March 18 purchase and 115 units from the March 25 purchase. Specific Identification: Goods Purchased # of units Date Cost of Goods Sold # of units Cost per Cost of Goods sold unit Sold Cost per unit Inventory Balance # of units Cost Inventory Balance per unit 160 @ $52.20 = $ 8,352.00 March 1 March 5 March 9 March 18 March 25 March 29 Totals $ 0.00