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 Units Sold at Retail Mar. 1 Beginning inventory 80 units @ $50.60 per unit Mar. 5 Purchase 215 units @ $55.60 per unit Mar. 9 Sales 240 units @ $85.60 per unit Mar. 18 Purchase 75 units @ $60.60 per unit Mar. 25 Purchase 130 units @ $62.60 per unit Mar. 29 Sales 110 units @ $95.60 per unit Totals 500 units 350 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 55 units from beginning inventory and 185 units from the March 5 purchase; the March 29 sale consisted of 35 units from the March 18 purchase and 75 units from the March 25 purchase. Complete this question by entering your answers in the tabs below. Perpetual FIFO Perpetual LIFO Weighted Average Specific IdCompute the cost assigned to ending inventory using LIFO. Perpetual LIFO: Goods Purchased Cost of Goods Sold Inventory Balance Date # of Cost per # of units Cost Cost of Goods Cost units unit sold per Inventory unit Solo # of units per unit Balance March 1 80 @ 50.60 $ 4,048.00 March 5 215 @ 55.60 X @ 50.60 215 @ 55.60 11,954.00 $ 11,954.00 March 9 25 @ $ 50.60 = $ 1,265.00 55 @ $ 50.60 $ 2,783.00 215 @ $ 55.60 11,954.00 @ 55.60 $ 13,219.00 $ 2,783.00 March 18 75 @ $ 60.60 55 @ 50.60 = $ 2,783.00 a 55.60 75 @ 60.60 4,545.00 $ 7,328.00 March 25 130 @ 62.60 55 @ $ 50.60 $ 2,783.00 55.60 75 @ 60.60 4,545.00 130 @ 62.60 8, 138.00 15,466.00 March 29 @ $ 50 .60 = $ 0.00 55 @ 50.60 $ 2,783.00 a 55.60 = 0.00 a 55.60 a $ 60.60 0.00 75 @ 60.60 4,545.00 110 @ 62.60 6,886.00 20 @ 62.60 1,252.00 $ 6,886.00 $ 8,580.00 Totals $ 20, 105.00 $ 8,580.00Compute the cost assigned to ending inventory using FIFO. Perpetual FIFO: Goods Purchased Cost of Goods Sold Inventory Balance # of Cost # of units Cost Cost of Goods Cost Date units per sold per Sold # of units per Inventory unit unit unit Balance March 1 80 a 50.60 $ 4,048.00 March 5 215 @ 55.60 80 @ 50.60 $ 4,048.00 215 @ $ 55.60 11,954.00 16,002.00 March 9 80 @ $ 50.60 $ 4,048.00 @ $ 50.60 160 @ 55.60 8,896.00 55 @ 55.60 3,058.00 $ 12,944.00 $ 3,058.00 March 18 75 @ $ 60.60 a $ 50.60 65 @ $ 55.60 3,058.00 75 @ $ 60.60 4,545.00 $ 7,603.00 March 25 130 @ 62.60 @ $ 50.60 65 @ $ 55.60 3,058.00 75 @ $ 60.60 4,545.00 130 @ $ 62.60 8, 138.00 15,741.00 March 29 @ 50.60 = $ 0.00 a $ 50.60 55 @ 55.60 3,058.00 a $ 55.60 55 v @ $ 60.60 3,333.00 20 ~ @ $ 60.60 1,212.00 62.60 0.00 130 @ 62.60 8,138.00 $ 6,391.00 $ 9,350.00 Totals $ 19,335.00 $ 9,350.00Compute 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 Inventory Balance # of Cost per # of units Cost Cost of Goods Cost Date units sold per Sold # of units per Inventory unit unit unit Balance March 1 80 @ 50.60 = $ 4,048.00 March 5 215 @ $ 55.60 V X 50.60 287.81 X 55.60 16,002.24 Average 287.81 $ 54.24 $ 16,002.24 March 9 240 @ $ 54.24 = $ 13,017.60 55 @ $ 54.24 $ 2,983.20 March 18 75 @ $ 60.60 V 55 @ $ 54.24 $ 2,983.20 124 X $ 60.60 7,514.40 Average 179 57.92 = $ 10,497.60 March 25 130 @ $ 62.60 X a $ 57.92 250.272 X 62.60 15,667.03 250.272 60.26 $ 15,667.03 March 29 110 @ $ 60.26 X $ 6,628.60 150 @ $ 60.26 = $ 9,039.00 Totals 19,646.20Specific Identification: Goods Purchased Cost of Goods Sold Inventory Balance Date # of Cost # of units Cost Cost of Goods Cost units per unit sold per # of units per Inventory unit Sold unit Balance March 1 80 a 50.60 $ 4,048.00 March 5 215 $ 55.60 X @ 50.60 30 X @ $ 55.60 1,668.00 $ 1,668.00 March 9 X @ 50.60 $ 0.00 X @ 50.60 X @ 55.60 0.00 X 55.60 March 18 75 @ 60.60 X @ $ 50.60 x @ 55.60 40 X @ $ 60.60 2,424.00 2,424.00 March 25 130 @ $ 62.60 X @ 50.60 X 55.60 x @ $ 60.60 55 X @ 62.60 3,443.00 $ 3,443.00 March 29 a $ 50.60 = $ 0.00 X @ $ 50.60 a 55.60 0.00 X a 55.60 X @ $ 60.60 0.00 X @ 60.60 X 62.60 0.00 X @ 62.60 Totals $ 0.00