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. DateActivitiesUnits Acquired at CostUnits Sold at Retail Mar.1 Beginning inventory 240units@ $53.80 per unit Mar.5 Purchase 295units@ $58.80 per unit Mar.9 Sales 400units@ $88.80 per unit Mar.18 Purchase 155units@ $63.80 per unit Mar.25 Purchase 290units@ $65.80 per unit Mar.29 Sales 270units@ $98.80 per unit Totals 980units 670units 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 135 units from beginning inventory and 265 units from the March 5 purchase; the March 29 sale consisted of 115 units from the March 18 purchase and 155 units from the March 25 purchase.