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 80 units @ $50.60 per unit 215 units @ $55.60 per unit Date Activities Mar. 1 Beginning inventory Mar. 5 Purchase Mar. 9 Sales Mar. 18 Purchase Mar. 25 Purchase Mar. 29 Sales Totals 240 units @ $85.60 per unit 75 units @ $60.60 per unit 130 units @ $62.60 per unit 110 units @ $95.60 per unit 350 units 500 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 55 units from beginning inventory and 185 units from the March 5 purchase; the March 29 sale consisted of 35 units from the March 18 purchase and 75 units from the March 25 purchase. Compute the cost assigned to ending inventory using FIFO. Perpetual FIFO: Goods Purchased # of Cost units per unit Cost of Goods Sold Cost Cost of Goods Sold per unit # of units sold Date Inventory Balance # of units Cost Inventory per unit Balance 80 @ 550.60 $ 4,048.00 March 1 March 5 March 9 March 18 March 25 March 29 Totals Compute the cost assigned to ending inventory using LIFO. Perpetual LIFO: Goods Purchased # of units per unit Cost Cost of Goods Sold Cost Cost of Goods Sold per unit Date # of units sold Inventory Balance # of units Cost Inventory per unit Balance 80 @ 550.60 = S 4,048.00 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 Cost Date # of units Cost Cost of Goods Cost units per unit sold # of units per unit Sold Inventory Balance per unit March 1 80 @ 550.60 = S 4,048.00 March 5 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 55 units from beginning inventory and 185 units from the March 5 purchase; the March 29 sale consisted of 35 units from the March 18 purchase and 75 units from the March 25 purchase. Specific Identification: Goods Purchased Cost of Goods Sold Inventory Balance # of Cost # of units Cost Cost of Goods Date Cost units sold Sold # of units March 1 80 550.60 = S 4,048.00 per unit per unit per unit Inventory Balance March 5 March 9 March 18 March 25 March 29 Totals