Salmone Company reported the following purchases and sales for its only product, Salmone uses a periodic inventory system. Determine the cost assigned to cost of goods sold using LIFO. Date Units Sold at Retail Activities Beginning Inventory Purchase Sales Purchase Sales Units Acquired at Cost 290 units @ $14 290 units @ $16 May 1 5 10 15 24 210 units @ $24 170 units @ $17 24 160 units @ $25 of 2 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 230 units@ $53.60 per unit 290 units 358.60 per unit eBook 390 units 588.60 per unit Date Activities Mar. 1 Beginning inventory Mar. 5 Purchase Mar. 9 Sales Mar. 18 Purchase Mar. 25 Purchase Mar. 29 Sales Totals 150 units @ $63.60 per unit 280 units @ $65.60 per unit Print 260 units 598.60 per unit 650 units References 958 units Complete this question by entering your answers in the tabs below. ht ences Perpetual Fifo Perpetual LIFO Weighted Average Specific Id Compute the cost assigned to ending inventory using FIFO. Perpetual FIFO: Goods Purchased Cost of Goods Sold # of Date # of units Cost per Cost of Goods Sold unit sold unit March 1 March 5 290 @ $ 58,60 Cost per units Inventory Balance Cost per Inventory # of units unit Balance 230 @ $53.60 = $ 12,328.00 230 @ $ 53.60 = $ 12,328.00 290 @ $ 58.60 = 16,994.00 $ 29,322 00 Required information Cost per Cost per Cost per # of units Date # of units sold # of units Cost of Goods Sold unit unit unit $53.60 = Inventory Balance $ 12,328.00 March 1 230 @ March 5 2901 @ $ 58 60 230 @ 290 @ $ 53,60 = 558,60 = $ 12,328.00 16,994.00 $ 29,322.00 March 9 $ 230 @ 160 @ $53.60 $58.60 12, 328.00 9,376 00 21.704,00 $53.60 $58.60 = = 130 7,618.00 $ 7,618.00 5 March 18 150 $63.60 @ @ $53.60 $ 58 60 $63.60 March 25 280 $65 60 @e $53.60 $ 58 60 $63.60 March 29 ces Totals $ 21.704.00