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 Acquired at Cost 135 units e $70 per unit 435 unitse $75 per unit Units Sold at Retail Date Activities Mar. 1 Beginning inventory Mar. 5 Purchase Mar. 9 Sales Mar. 18 Purchase Mar. 25 Purchase Mar. 29 Sales Totals 455 units $105 per unit 190 units e $80 per unit 270 units e $82 per unit 1,030 units 230 units e $115 per unit 685 units For specific identification, the March 9 sale consisted of 80 units from beginning inventory and 375 units from the March 5 purchase; the March 29 sale consisted of 75 units from the March 18 purchase and 155 units from the March 25 purchase. Required information 3. Compute the cost assigned to ending inventory using (a) FIFO, (b) LIFO, (c) weighted average, and (d) specific identification your "average cost per unit" to 2 decimal places.) a) Periodic FIFO Cost of Goods Sold Ending Inventory Cost of Goods Available for Sale Cost of # of units Cost per Goods unit Available for Sale 135 $ 70.00 $ 9,450 Cost per # of units sold Cost of Goods Sold # of units in ending Inventory Cost per unit Ending Inventory unit 135 $ 70.00 $ 9,450 $ 0.00 $ 0 0 Beginning Inventory Purchases: March 5 March 18 March 25 Total 435 $ 75,00 1901 $ 80.00 435 $ 75,00 $ 0.00 32,625 15,200 0 $ 57,275 32,625 0 0 $ 42,075 $ $ $ 0 0.00 0.00 0.00 0 760 570 0 b) Periodic LIFO Cost of Goods Sold Ending Inventory #of units sold Cost per Cost of Goods Available for Sale Cost of Goods Cost per # of units unit Available for Sale 135 $ 70.00 $ 9,450 Cost of Goods Sold Cost per # of units in ending Inventory Ending Inventory unit unit 0 Beginning inventory Purchases: March 5 March 18 0 435 $ 75.00 190 $ 80.00 32,625 15,200 0 0 March 25 Total 760 $ 57,275 0 0 cl Average Cast Costo Cost of Goods Available for Sale Cost of Goods Sold Endina Inventory c) Average Cost Cost of Goods Sold Ending Inventory Average Cost of Goods Available for Sale Average Cost of Goods # of units Cost per Available unit for Sale 135 $ 9,450 Average #of units sold Cost per Cost of Goods Sold # of units in ending inventory Cost per Ending Inventory Unit unit Beginning inventory Purchases: March 5 March 18 March 25 Total 435 190 32,625 15,200 nces 760 $ 57 275 $ 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 135 $ 70.00 $ 9,450 # of units sold Cost per unit Cost of Goods Sold # of units in ending inventory Cost per unit Ending Inventory $ 70.00 $ 0 $ 70.00 $ 0 $ 75.00 0 Beginning inventory Purchases: March 5 March 18 March 25 Total 0 435 $ 75.00 190 $ 80.00 32,625 15,200 $ 75.00 $ 80.00 s 80.00 0 0 0 0 760 $ 57,275 0 0