[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. Date Activities Units Acquired at Cost Units Sold at Retail Mar. 1 Beginning inventory 150 units @ $52.00 per unit Mar. 5 Purchase 250 units @ $57.00 per unit Mar. 9 Sales 310 units @ $87.00 per unit Mar. 18 Purchase 110 units @ $62.00 per unit Mar. 25 Purchase 200 units @ $64.00 per unit Mar. 29 Sales 180 units @ $97.00 per unit Totals 710 units 490 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 90 units from beginning inventory and 220 units from the March 5 purchase; the March 29 sale consisted of 70 units from the March 18 purchase and 110 units from the March 25 purchase.

Compute the cost assigned to ending inventory using specific identification. For specific identification, the March 9 sale consisted of 90 u and 220 units from the March 5 purchase; the March 29 sale consisted of 70 units from the March 18 purchase and 110 units from the Specific Identification: Goods Purchased # of Cost per Date units unit March 1 # of units sold Cost of Goods Sold Cost per Cost of Goods Sold Inventory Balance Cost per Inventory Balance unit @ $ 52.00 = $ 7,800.00 unit 150 March 5 March 9 March 18 March 25 March 29 Totals $ 0.00