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 Units Sold at Retail March 1 March 5 March 9 March 18 March 25 March 29 Activities Beginning inventory Purchase Units Acquired at Cost 90 units $50.80 per unit 220 units $55.80 per unit Sales 250 units $85.80 per unit Purchase Purchase Sales 80 units 140 units $60.80 per unit $62.80 per unit Totals 530 units 120 units $95.80 per unit 370 units 3. Compute the cost assigned to ending inventory using (a) FIFO, (b) LIFO, (c) weighted average, and (c) specific identification. For specific identification, units sold include 60 units from beginning inventory, 190 units from the March 5 purchase, 40 units from the March 18 purchase, and 80 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. Goods Purchased Perpetual FIFO: Cost of Goods Sold Inventory Balance 1 Date # of units Cost per unit # of units sold Cost per unit Cost per Cost of Goods Sold # of units unit Inventory Balance March 1 90 at $ 50.80= $ 4,572.00 220 at $55.80 March 5 Total March 5 March 91 90 at $ 50.80= $ 4,572.00) 220 at $55.80= 90 at $ 50.80 $ 4,572.00 160 at $55.80 8.928.004 at $ 50.80 12,276.00 $ 16,848.00 60 at $55.80= 3,348.00 Total March 9 March 18 Total March 18 March 25 Total March 25 March 29 Total March 29 S 13,500.00 $ 3,348.00 Perpetual LIFO: Goods Purchased Cost of Goods Sold Date # of units Cost per unit # of units sold Cost per unit Cost per Inventory Balance Inventory Cost of Goods Sold # of units unit Balance 90 at 220 at $55.80 90 at $ 50.80= $ 4,572.00 $ 50.80= $ 4,572.00 220 at March 1 March 5 Total March 5 March 9 Total March 9, March 18 Total March 18 March 25 Total March 25 March 29 Total March 29 80 at $60.80 140 at $62.80 $55.80= 12,276.00 $ 16,848.00 30 at $ 50.80 $ 220 at $55.80 => 1,524.00 12,276.00 at $ 50.80= 60 at $55.80= $ 3,348.00 $ 13,800.00 $ 3,348.00 at $ 50.80 at $55.80 at $60.80 120 at $ 50.80 at $55.80 at $ 60.80 at $62.80 Perpetual FIFO Perpetual LIFO Weighted Specific Id Average Compute the cost assigned to ending inventory using weighted average. Note: Round your average cost per unit to 2 decimal places. Goods Purchased Weighted Average Perpetual: Cost of Goods Sold Date # of units Cost per unit # of units sold Cost per unit Cost of Goods Sold # of units 90 at March 1 March 5 Average March 5 March 91 March 18 Average March 18 March 25 Average March 25 March 29 Totals + $ 0.00 Inventory Balance Cost per unit Inventory Balance $ 50.80= $ 4,572.00 Perpetual FIFO Perpetual LIFO Weighted Average Specific Id Compute the cost assigned to ending inventory using specific identification. For specific identification, units sold include 60 units from beginning inventory, 190 units from the March 5 purchase, 40 units from the March 18 purchase, and 80 units from the March 25 purchase. Specific Identification Goods Available for Sale Cost of Goods Sold Date Cost of Goods # of units # of units Cost per # of units Cost per Available for unit sold unit Cost of Goods Sold Ending Inventory Cost per Ending In ending unit Inventory Sale Inventory March 1 March 5 March 181 March 25 Total $ 0 $ 0.00 $ D $ 0.00 $ 0 0 0.00 0 0.00 0 0.00 0.00 0 0.00 0 $ 0 NO $ 0 0 $ 0 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 March 1 March 5 Activities Beginning inventory Purchase Units Acquired at Cost Units Sold at Retail 90 units 220 units March 9 Sales March 18 March 25 March 29 Purchase Purchase Sales Totals 80 units 140 units 530 units $50.80 per unit $55.80 per unit $60.80 per unit $62.80 per unit 250 units $85.80 per unit 120 units $95.80 per unit 370 units 4. Compute gross profit earned by the company for each of the four costing methods. For specific identification, units sold include 60 units from beginning inventory, 190 units from the March 5 purchase, 40 units from the March 18 purchase, and 80 units from the March 25 purchase. Note: Round weighted average cost per unit to two decimals and final answers to nearest whole dollar. Gross Margin FIFO LIFO Weighted Average Specific ID Sales Less: Cost of goods sold Gross profit