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 60 units @ $50.20 per unit 205 units @ $55.20 per unit Date March 1 March 5 March 9 March 18 March 25 March 29 220 units @ $85.20 per unit Activities Beginning inventory Purchase Sales Purchase Purchase Sales Totals 65 units 110 units @ $60.20 per unit @ $62.20 per unit 90 units @ $95.20 per unit 310 units 440 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 45 units from beginning Inventory, 175 units from the March 5 purchase, 25 units from the March 18 purchase, and 65 units from the March 25 purchase. Date Goods Purchased Cost # of units per unit # of units sold Cost of Goods Sold Cost Cost of Goods per Sold unit Inventory Balance Cost # of units per Inventory unit Balance 60 $ at 50.20 $ 3,012.00 March 1 205 > at $ 55.20 60 at 11 = March 5 >> S 50.20 S 55.20 205 at = $ 3,012.00 11,316.00 S 14,328.00 Total March 5 60 > at 11 S 3,012.00 $ 2.259.00 March 9 S 50.20 S 55.20 45 at 15 at x x S 50.20 S 55.20 = = 205 at = 11,316.00 828.00 Total March 9 $ 14,328.00 $ 3,087.00 65 at $ 60.20 $ at March 18 at S 50.20 $ 55.20 S 60.20 65 at 3,913.00 $ 3,913.00 Total March 18 110 at $ 62.20 > 60 at = X X X at = 205 110 March 25 $ 50.20 $ 55.20 $ 60.20 S 62.20 $ 3,012.00 11,316.00 6,622.00 at 110 at = 6,842.00 S 27,792.00 Total March 25 at = $ s 0.00 at 50.20 at = 0.00 at 55.20 March 29 S 50.20 S 55.20 S 60.20 S 62.20 at 0.00 at 60.20 88 at 0.00 at 62.20 Total March 29 Totals $ 14,328.00