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 Date Activities Units Aequired at Cost Units Sold at Retail Mar. 1 Beginning inventory 200 units $90 per unit Mar. 5 Purchase 500 units $95 per unit 9 Sales 520 units $125 per unit Mar. 18 Purchase 320 units @ $100 per unit Mar. 25 Purchase 400 units @ $102 per unit Mar. 29 Sales 360 units $135 per unit Total. 1,420 units 880 units Mar. For specific identification, the March 9 sale consisted of 70 units from beginning inventory and 450 units from the March 5 purchase; the March 29 sale consisted of 140 units from the March 18 purchase and 220 units from the March 25 purchase. 3. Compute the cost assigned to ending inventory using (a) FIFO, (b) LIFO, (c) weighted average, and (d) specific identification (Round your average cost per unit to 2 decimal places.) a) Periodic FIFO Cost of Goods Available for Sale Cost of Goods Sold Ending Inventory Cost per # of units Cost of Goods Available for Sale unit Cost per unit # of units sold Cost of Goods Sold # of units in ending inventory Cost per unit Ending Inventory 200 $ 90.00 $ 18,000 $ 0.00 $ 0 200 $ 90.00 $ 18,000 500 0 47,500 Beginning inventory Purchases: March 5 March 18 March 25 Total S 95.00 $ 100.00 47.500 32.000 S $ 0.00 0.00 320 0 500 $ 95.00 $ 0.00 $ 0.00 700 0 0 0 1,020 $ 97,500 0 $ 65,500 b) Periodic LIFO Cost of Goods Sold Ending Inventory #of units Cost per Cost of Goods Available for Sale Cost of Goods unit Available for Sale 200 $ 90.00 $ 18,000 # of units Cost per sold unit Cost of Goods Sold # of units Cost per in ending unit inventory Ending Inventory $ 0 0 Beginning inventory Purchases: March 5 March 18 March 25 Total 500 320 $ 95,00 $ 100.00 47.500 32,000 0 0 1,020 $ 97,500 0 c) Average Cost Cost of Goods Sold Ending Inventory Cost of Goods Available for Sale Average Cost of # of units Cost per Goods unit Available for Sale 200 $ 18,000 # of units sold Average Cost per Unit Cost of Goods Sold # of units Average in ending Cost per inventory unit Ending Inventory 500 Beginning inventory Purchases: March 5 March 18 March 25 Total 47.500 32,000 320 1,020 $ 97,500 0 $ 0 d) Specific Identification Cost of Goods Available for Sale Cost of Goods Sold Ending Inventory # of units Cost of Cost per Goods unit Available for Sale $ 90.00 $ 18,000 # of units sold Cost per unit Cost of Goods Sold # of units in ending inventory Cost per unit Ending Inventory 200 $ 90.00 $ 0 $ 90.00 $ 0 0 0 Beginning inventory Purchases: March 5 March 18 March 25 Total 500 320 $ 95.00 $ 100.00 47.500 32.000 $ 95.00 $ 100.00 $ 95.00 $ 100.00 0 0 0 0 1,020 $ 97,500 0 0