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 Activities Units Acquired at Cost i ts sold at Retail Mar, 1 Beginning inventory 160 units $52.20 per unit Mar. 5 Purchase 255 units $57.20 per unit Mar. 9 Sales 320 units @ $87.20 per unit Mar. 18 Purchase 115 units $62.20 per unit Mar. 25 Purchase 210 units $64.20 per unit Mar. 29 Sales 190 units $97.20 per unit Totals 740 units 518 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. Perpetual FIFO: Cost of Goods Sold Inventory Balance Goods Purchased #of Cost per units unit Date # of units sold Cost per Cost of Goods Sold unit of units 160 @ Balance $ 8,352.00 March $ 52.20 - March 5 March 9 March 18 March 25 March 29 Totals 0.00 Perpetual LIFO: Goods Purchased Date #of Cost per ate units unit March March 52 # of units sold 1 Cost of Goods Sold Cost per unit "Cost of Goods Sold o n 1 L Inventory Balance #of units Cost per Inventory unit Balance 60 @ $ 52.20 - $ 8,352.00 TS March 18 LI TE March 25 March 29 Totals 0.00 T L Weighted Average Perpetual: Goods Purchased # of Cost per Date units unit Cost of Goods Sold Cost per cost of Goods Sold #of units sold Inventory Balance # of units 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 Specific Identification: Goods Purchased # of Cost per units unit Cost of Goods Sold # of units Cost per Cost of Goods unit Sold Date sold Inventory Balance # of units un Inventory Balance 160 @ $52.20 = $ 8,352.00 March 1 March 5 March 9 March 18 March 25 March 29 Totals