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 @ $50 per unit 400 units @ $55 per unit Date March 1 March 5 March 9 March 18 March 25 March 29 420 units @ $85 per unit Activities Beginning inventory Purchase Sales Purchase Purchase Sales Totals 120 units 200 units @$60 per unit @ 562 per unit 160 units @ $95 per unit 580 units 820 units 3. Compute the cost assigned to ending inventory using (a) FIFO. () LIFO. () weighted average and (c) specific identification. For specific identification, units sold include 80 units from beginning inventory, 340 units from the March 5 purchase, 40 units from the March 18 purchase, and 120 units from the March 25 purchase. Compute the cost assigned to ending inventory using FIFO. Goods Purchased Perpetual FIFO: Cost of Goods Sold Date # of units Cost per # of units sold Cost per Inventory Balance Cost per # of units Inventory unit Balance 100 at $ 50,00 = $ 5,000.00 unit unit Cost of Goods Sold March 1 March 5 Total March 5 March 9 Total March 9 ces March 18 Total March 18 March 25 Total March 25 March 29 Total March 29 Totals Perpetual LIFO > Compute the cost assigned to ending inventory using LIFO. Perpetual LIFO: Cost of Goods Sold Cost per unit Cost of Goods Sold Date Goods Purchased Cost per # of units unit # of units sold Inventory Balance Cost per # of units unit Inventory Balance 100 at $50.00 = $ 5,000.00 March 1 March 5 Total March 5 March 9 Total March 9 March 18 Total March 18 March 25 Total March 25 March 29 Total March 29 Totals Date Cost per Specific Identification Goods Available for Sale Cost of Goods Sold Cost of Goods # of units Available for # of units Cost per Cost of unit sold unit Sale Goods Sold $ 0 $ 0.00 $ 0 0.00 0 0.00 0 Oo March 1 March 5 March 18 March 25 Total Ending Inventory # of units Cost per in ending Ending unit inventory Inventory $ 0.00 $ 0 0.00 0 0.00 0 0.00 0 0 $ 0 o lo $ 0 0 $ 0