! Required information [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 100 units @ $50.00 per unit 400 units @ $55.00 per unit Date Activities Mar. 1 Beginning inventory Mar. 5 Purchase Mar. 9 Sales Mar. 18 Purchase Mar. 25 Purchase Mar. 29 Sales 420 units @ $85.00 per unit 120 units @ $60.00 per unit 200 units @ $62.00 per unit 160 units @ $95.00 per unit 580 units Totals 820 units For specific identification, the March 9 sale consisted of 80 units from beginning inventory and 340 units from the March 5 purchase; the March 29 sale consisted of 40 units from the March 18 purchase and 120 units from the March 25 purchase. 3. Compute the cost assigned to ending inventory using (a) FIFO, (b) LIFO, (c) weighted average, and (d) specific identification. (Round your average cost per unit to 2 decimal places.) a) Periodic FIFO Cost of Goods Available for Sale Cost of Goods Sold Ending Inventory # of units Cost per Cost per Cost per unit Cost of Goods Available for Sale $ 0 # of units sold Cost of Goods Sold # of units in ending inventory Ending Inventory unit unit $ 0 S 0.00 $ 0 0 0 $ 0.00 0 Beginning inventory Purchases: March 5 March 18 March 25 Total 0 0 0 0 0 0 0 0 0 b) Periodic LIFO Cost of Goods Sold Ending Inventory Cost of Goods Available for Sale Cost of Cost per Goods # of units unit Available for Sale Cost per # of units sold Cost per unit Cost of Goods Sold # of units in ending inventory unit Ending Inventory Beginning inventory Purchases: March 5 March 18 March 25 Total 0 0 c) Average Cost Cost of Goods Sold Ending Inventory Cost of Goods Available for Sale Cost of Average Goods # of units Cost per Available unit for Sale # of units sold Average Cost per Unit Cost of Goods Sold # of units in ending inventory Average Cost per unit Ending Inventory Beginning inventory Purchases March 5 March 18 March 25 Total $ 0 $ 0 d) Specific Identification Cost of Goods Available for Sale Cost of Goods Sold Ending Inventory Cost per # of units Cost of Goods Available for Sale # of units sold Cost per Cost per unit unit Cost of Goods Sold # of units in ending inventory unit Ending Inventory Beginning inventory 0 $ 0 Purchases: March 5 0 0 0 0 March 18 March 25 0 0 Total 0 0