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 Mar. 1 Beginning inventory Mar. 5 Purchase Mar. 9 Sales Mar. 18 Purchase Mar. 25 Purchase Mar. 29 Sales Totals Units Acquired at Cost Units Sold at Retail 100 units $50 per unit 400 units $55 per unit 420 units $85 per unit 120 units $60 per unit 200 units $62 per unit 820 unita 160 units $95 per unit 580 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 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. 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 Cost per Date units unit # of units sold Cost per unit Cost of Goods Sold # of units Inventory Balance Cost per unit Inventory Balance 100 @ $50.00 = $ 5,000.00 March 1 March 5 March 9 March 18 March 25 March 29 Totals Perpetual FIFO Perpetual LIFO Weighted Average Specific Id Compute the cost assigned to ending inventory using LIFO. Perpetual LIFO: March 1 March 5 Goods Purchased Cost of Goods Sold Inventory Balance Date # of units unit Cost per # of units sold unit Cost per Cost of Goods Sold # of units unit 100 @$50.00 = $ 5,000.00 Cost per Inventory Balance March 9 March 18 March 25 March 29 Totals 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: Goods Purchased Cost of Goods Sold Date # of units unit Cost per # of units sold unit Cost per Cost of Goods Sold Inventory Balance Cost per # of units Inventory Balance unit March 1 100 @$50.00 = $ 5,000.00 March 5 Average March 9 March 18 Average March 25 March 29 Totals 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 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. Specific Identification: Goods Purchased #of Cost of Goods Sold Date units Cost per # of units unit sold unit Cost per Cost of Goods Sold of units 100 @ Inventory Balance Cost per unit $50.00 Inventory Balance $ 5,000.00 March 1 March 5 March 9 March 181 March 25 March 291 Totals