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 Mar. Activities 1 Beginning inventory Mar. 5 Purchase Mar. 9 Sales Mar. 18 Purchase Mar. 25 Purchase Mar. 29 Sales Units Acquired at Cost 130 units @ $51.60 per unit 240 units $56.60 per unit 100 units @ $61.60 per unit 180 units @$63.60 per unit Totals 650 units Units Sold at Retail 290 units @ $86.60 per unit 160 units @ $96.60 per unit 450 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 80 units from beginning inventory and 210 units from the March 5 purchase; the March 29 sale consisted of 60 units from the March 18 purchase and 100 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: Goods Purchased Cost of Goods Sold # of Date unita Cost per unit # of unite Bold Cost per unit Cost of Goods Sold # of unite March 1 130 @ Inventory Balance Cost per unit Inventory Balance $51.60= $ 6,708.00 March 5 240@ $56.60 130 @ 240 $51.60- $ 6,708.00 $56.60 13,584.00 $ 20,292.00 March 9 130 @ 160 @ $51.60 = S 6,708.00 $56.60 9,056.00 80 S 15,784.00 March 18 100 @ $61.60 March 25 180 @ $63.60 March 29 Totals $51.60 $56.60- 4,528.00 $ 4,528.00 80 100 $51.60 $56.60- $61.60- 4,528.00 6,160.00 $ 10,688.00 B $51.60 80 @ $56.60- 4,528.00 100@ 180 $61.60= 6,160.00 $63.60- 11,448.00 $22,136.00 @ 80 80 @ @ $51.60 $56.60 $61.60 - $63.60 = $ 0.00 @ $51.60 S 4,528.00 4,928.00 0.00 9,456.00 20 @ 180 @ $56.60 $61.60- $63.60= $ 25,220.00 Perpetual FIFO Perpetual LIFO > 1,232.00 11,448.00 $ 12,680.00 $ 12,680.00 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 weighted average. (Round your average cost per unit to 2 decimal places.) Weighted Average Perpetual Cost of Goods Sold Date Goods Purchased #of units Inventory Balance Cost per unit # of unite Bold Cost per unit Cost of Goods Sold Cost of units March 11 130 @ March 5 240 @ $56.60 130 @ 240 per unit Inventory Balance $51.60- S 6,708.00 $51.60 = S 6,708.00 $56.60 = Average 370 @ 13,584.00 $ 20,292.00 March 9 290 $54.84 $ 15,903.60 80 @ $54.84- S 4,387.20 March 18 100 @ $61.60 80 $54.84 100@ $61.60- S 4,387.20 6,160.00 Average March 25 180 @ $63.60 180 $58.60- $ 10,547.20 80 $58.60- S 4,688.00 100 @ $63.60 6,360.00 180 $63.60- $ 11,048.00 March 29 Totals 160 561.10 $9,776.00 200 $61.10 $ 12,220.00 $ 25,679.60 < Perpetual LIFO Specific id > 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 LIFO. Perpetual LIFO: Goods Purchased Cost of Goods Sold Date # of unite Cost per unit # of unite Bold Cost per unit Cost of Goods Sold # of units March 1 130 @ Cost per unit $51.60 March 5 240 $56.60 Inventory Balance 130 @ $51.60 240 $56.60- Inventory Balance $ 6,708.00 $ 6,708.00 13,584.00 $ 20,292.00 March 9 March 18 100 @ $61.60 March 25 180 @ $63.60 March 29 Totals 130 @ $51.60 = $ 6,708.00 160 @ $56.60 = 9,056.00 80 @ $51.60 $56.60- $ 15,764.00 $ 4,528.00 5 4,528.00 80 @ 100 @ $51.60 $56.60 = $61.60 4,528.00 6,160.00 $ 10,688.00 @ 80 @ 100 @ $61.60 $51.80 $56.60 = 4,528.00 6,160.00 180 $63.60 11,448.00 $ 22,136.00 @ $51.60 S 0.00 @ $51.60 @ 80 @ $56.60 80 @ 561.60 = $63.60 T 4,528.00 4,928.00 0.00 @ $56.60 S 9,456.00 20 @ $61.60 180 @ 563.60- 1,232.00 11,448.00 $ 12,680.00 $ 12,680.00 $ 25,220.00 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 80 units from beginning inventory and 210 units from the March 5 purchase; the March 29 sale consisted of 60 units from the March 18 purchase and 100 units from the March 25 purchase. Specific Identification: Goods Purchased #of Cost of Goods Sold Inventory Balance Date unite Cost per unit #of units sold Cost per unit Cost of Goods Sold Cost # of units 130 @ per unit Inventory Balance $51.60- S 6,708.00 March 11 March 5 March 9 March 18 March 25 March 29 Totals