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 180 units @ $50.00 per unit 480 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 Totals 428 units @ $85.88 per unit 120 units @ $60.00 per unit 200 units @ $62.88 per unit 168 units @ $95.88 per unit 580 units 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. (6) LIFO. (C) Welghted average, and (c) specific Identification. (Round your average cost per unit to 2 decimal places.) Required information a) Periodic FIFO Cost of Goods Sold Ending Inventory Cost of Goods Available for Sale Cost of Goods Cost per # of units unit Available for Sale 100 $ 50.00 $ 5,000 # of units sold Cost per unit Cost of Goods Sold # of units in ending inventory Cost per unit Ending Inventory $ 0 100 $ 50.00 $ 5,000 0 Beginning inventory Purchases: March 5 March 18 March 25 Total 100 $ 55.00 400 $ 80.00 400 $ 55.00 120 $ 60.00 200 $ 62.00 820 22.000 7,200 12,400 $ 48,600 0 0 5,500 24,000 0 $ 34,500 0 800 b) Periodic LIFO Cost of Goods Sold Ending Inventory Cost of Goods Available for Sale Cost of Goods # of units Cost per unit Available for Sale 100 $ 50.00 $ 5.000 # of units Cost per sold unit Cost of Goods Sold # of units in ending inventory Cost per unit Ending Inventory 80 $ 55.00 4,400 Beginning inventory Purchases: March 5 March 18 March 26 Total 400 $ 55.00 120 $ 60.00 200 $ 82.00 820 22.000 7,200 12.400 $ 48,600 0 80 $ 4,400 c) Average Cost Cost of Goods Sold Cost of Goods Available for Sale Cost of Average Goods # of units Cost per Available Ending Inventory # of units Average Ending in ending Cost per inventory unit Inventory Average Cost per Unit # of units sold Cost of Goods Sold unit for Sale $ 5,000 100 Beginning inventory Purchases: March 5 March 18 March 25 Total 400 120 200 820 22,000 7.200 12,400 $ 46,600 $ 0 $ 0 d) Specific Identification Cost of Goods Available for Sale Cost of Goods Sold Ending Inventory Cost of # of units Cost per Goods unit Available for Sale 100 $ 50.00 $ 5,000 # of units Cost per sold unit Cost of Goods Sold # of units in ending inventory Cost per unit Ending Inventory 0 $ 50.00 $ 0 Beginning inventory Purchases: March 5 March 18 March 25 400 120 200 820 $ 55.00 $ 80.00 $ 62.00 22.000 7,200 12,400 $ 48,600 0 0 0 0 0 $ 55.00 $ 80.00 $ 82.00 0 Total 0 0