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 100 units @ $58.00 per unit 400 units @ $63.00 per unit Date Activities Mar. 1 Beginning inventory Mar. 5 Purchase Mar. 9 Sales Mar. 18 Purchase Mar. 25 Purchase Mar. 29 Sales 420 units @ $93.00 per unit 120 units @ $68.00 per unit 200 units @ $70.00 per unit 160 units @ $103.00 per unit 580 units Totals 820 units Required: 1. Compute cost of goods available for sale and the number of units available for sale. Cost of Goods Available for Sale # of units Cost of Goods Available Unit for Sale Cost per Beginning inventory Purchases: March 5 March 18 March 25 Total 2. Compute the number of units in ending inventory. Ending inventory 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 80 units from beginning inventory and 340 units from the March 5 purchase; the March 29 sale consisted of 40 units from the March 18 purchase and 120 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. Perpetual FIFO: Goods Purchased # of Cost units per unit Cost of Goods Sold Cost per unit Cost of Goods Sold # of units sold Date Inventory Balance Cost Inventory # of units per unit Balance 100 @ $ 58.00 = $ 5,800.00 March 1 March 5 March 9 March 18 March 25 March 29 Totals Perpetual FIFO Perpetual LIFO > Perpetual FIFO Perpetual LIFO Weighted Average Specific Id Compute the cost assigned to ending inventory using LIFO. Perpetual LIFO: Goods Purchased # of Cost per unit Date Cost of Goods Sold Cost Cost of Goods Sold per unit units a # of units sold Inventory Balance Cost # of units Inventory per unit 100 @ $ 58.00 = $ 5,800.00 Balance March 1 March 5 March 9 March 18 March 25 March 29 Totals 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: Goods Purchased Cost of Goods Sold Inventory Balance # of Date Cost # of units Cost Cost units per unit sold per unit Cost of Goods Sold per unit Inventory Balance March 1 100 @ $58.00 = $ 5,800.00 March 5 # of units Average March 9 March 18 Average March 25 March 29 Totals Perpetual FIFO Perpetual LIFO Weighted Average Specific Id Compute the cost assigned to ending inventory using specific identification. For specific identification, the March 9 sale consisted of 80 units from beginning inventory and 340 units from the March 5 purchase; the March 29 sale consisted of 40 units from the March 18 purchase and 120 units from the March 25 purchase. Specific Identification: Goods Purchased Date # of Cost units per unit March 1 March 5 Cost of Goods Sold # of units Cost Cost of Goods sold per unit Sold Inventory Balance # of units Cost Inventory Balance per unit 100 @ $ 58.00 S 5,800.00 March 9 March 18 March 25 March 29 Totals