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. Units Sold at Retail Units Acquired at Cost 70 units @ $50.40 per unit 210 units @ $55.40 per unit Date March 1 March 5 March 9 March 18 March 25 March 29 230 units @ $85.40 per unit Activities Beginning inventory Purchase Sales Purchase Purchase Sales Totals 70 units 120 units @ $60.40 per unit @ $62.40 per unit 100 units @ $95.40 per unit 330 units 470 units 3. Compute the cost assigned to ending inventory using (a) FIFO, (b) LIFO, (c) weighted average, and (d) specific identification. For specific identification, units sold include 50 units from beginning inventory, 180 units from the March 5 purchase, 30 units from the March 18 purchase, and 70 units from the March 25 purchase. Required information 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 Cost per Cost of Goods Sold unit Date Cost per # of units Cost per # of units sold unit March 1 210 at $ 55.40 March 5 Inventory Balance # of units Inventory unit Balance 70 at $ 50.40 = $ 3,528.00 70 at $ 50.40 = $ 3,528.00 210 at $ 55.40 = 11,634.00 $ 15,162.00 at $ 50.40 at $ 55.40 Total March 5 70 at = March 9 $ 50.40 $ 55.40 at II 3,528.00 0.00 3,528.00 Total March 9 $ March 18 Total March 18 March 25 Total March 25 March 29 Total March 29 Totals $ 3,528.00 Perpetual FIFO Perpetual LIFO Perpetual FIFO Perpetual LIFO Weighted Average Specific Id Compute the cost assigned to ending inventory using LIFO. Perpetual LIFO: Cost of Goods Sold Cost per Cost of Goods Sold unit Goods Purchased Cost per # of units # of units unit sold Date Inventory Balance Cost per Inventory # of units unit Balance 70 at $50.40 = $ 3,528.00 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 Totals $ 0.00 3. Compute the cost assigned to ending inventory using (a) FIFO, (b) LIFO, (c) weighted average, and (d) specific identification. For specific identification, units sold include 50 units from beginning inventory, 180 units from the March 5 purchase, 30 units from the March 18 purchase, and 70 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 weighted average. (Round your average cost per unit to 2 decimal places.) Weighted Average Perpetual: Cost of Goods Sold Date Goods Purchased Cost per # of units # of units unit Cost per unit Cost of Goods Sold # of units Inventory Balance Cost per unit Inventory Balance $ 50.40 = $ 3,528.00 sold March 1 70 at March 5 Average March 5 March 9 March 18 Average March 18 March 25 Average March 25 March 29 Totals 0.00 3. Compute the cost assigned to ending inventory using (a) FIFO, (b) LIFO, () weighted average, and (c) specific identification. For specific identification, units sold include 50 units from beginning inventory, 180 units from the March 5 purchase, 30 units from the March 18 purchase, and 70 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 specific identification. For specific identification, units sold include 50 units from beginning inventory, 180 units from the March 5 purchase, 30 units from the March 18 purchase, and 70 units from the March 25 purchase. Specific Identification: Cost of Goods Sold Inventory Balance Date # of units Cost per Inventory Balance Goods Purchased # of units Cost per Goods unit Puchased 70 at $ 50.40 = $ 3,528 210 at $ 55.40 = 11,634 70 at $ 60.40 4,228 120 at $ 62.40 = $ 7,488 # of units sold at unit $ 50.40 = = at $ 0.00 = March 1 March 5 March 18 March 25 at Cost per Cost of Goods Sold unit $ 50.40 $ 0.00 $ 55.40 $ 60.40 0.00 $ 62.40 = $ 0.00 at at = = at $ 55.40 = $ 60.40 = $ 62.40 = 0.00 at at Totals $ 0.00