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Required information [The following information applies to the questions displayed below.] Warnerwoods Company uses a periodic inventory system. It entered into the following purchases and sales transactions for March. For specific identification, the March 9 sale consisted of 50 units from beginning inventory and 460 units from the March 5 purchase; the March 29 sale consisted of 130 units from the March 18 purchase and 210 units from the March 25 purchase. Compute the cost assigned to ending inventory using (a) FIFO, (b) LIFO, (c) weighted average, and (d) specific identification. ote: Round your "average cost per unit" to 2 decimal places. Required information [The following information applies to the questions displayed below.] Warnerwoods Company uses a periodic inventory system. It entered into the following purchases and sales transactions for March. For specific identification, the March 9 sale consisted of 50 units from beginning inventory and 460 units from the March 5 purchase; the March 29 sale consisted of 130 units from the March 18 purchase and 210 units from the March 25 purchase. 4. Compute gross profit earned by the company for each of the four costing methods. Note: Round your average cost per unit to 2 decimal places and final answers to nearest whole dollar. (1) Required information \begin{tabular}{|c|c|c|c|c|c|c|c|c|c|c|} \hline \multirow{3}{*}{\begin{tabular}{|l|} a) Periodic FIFO \\ Beginning inventory \\ \end{tabular}} & \multicolumn{3}{|c|}{ Cost of Goods Available for Sale } & \multicolumn{3}{|c|}{ Cost of Goods Sold } & \multicolumn{4}{|c|}{ Ending Inventory } \\ \hline & \multirow{2}{*}{#ofunits190} & Costperunit & CostofGoodsAvailableforSale & \multirow{2}{*}{\begin{tabular}{|r|} #ofunitssold \\ 190 \\ \end{tabular}} & Costperunit & CostofGoodsSold & \multirow[t]{2}{*}{#ofunitsinendinginventory} & \multicolumn{2}{|c|}{Costperunit} & EndingInventory \\ \hline & & $80.00 & $15,200 & & $80.00 & $15,200 & & $ & 0.00 & $ \\ \hline \multicolumn{11}{|l|}{ Purchases: } \\ \hline March 25 & 380 & $92.00 & 34,960 & 340 & $92.00 & 31,280 & & $ & 0.00 & 0 \\ \hline Total & 1,360 & & $118,810 & 1,040 & & $89,830 & 510 & & & $43,350 \\ \hline \end{tabular} \begin{tabular}{|c|c|c|c|c|c|c|c|c|c|} \hline \multirow[t]{2}{*}{ c) Average Cost } & \multicolumn{3}{|c|}{ Cost of Goods Available for Sale } & \multicolumn{3}{|c|}{ Cost of Goods Sold } & \multicolumn{3}{|c|}{ Ending Inventory } \\ \hline & \# of units & AverageCostperunit & CostofGoodsAvailableforSale & #ofunitssold & AverageCostperUnit & CostofGoodsSold & #ofunitsinendinginventory & AverageCostperunit & EndingInventory \\ \hline Beginning inventory & 190 & & $15,200 & & & & & & \\ \hline \multicolumn{10}{|l|}{ Purchases: } \\ \hline March 5 & 490 & & 41,650 & & & & & & \\ \hline March 25 & 380 & & 34,960 & & & & & & \\ \hline Total & 1,360 & & $118,810 & & & $ & & & $ \\ \hline d) Specific Identification & \multicolumn{3}{|c|}{ Cost of Goods Available for Sale } & \multicolumn{3}{|c|}{ Cost of Goods Sold } & \multicolumn{3}{|c|}{ Ending Inventory } \\ \hline Beginning inventory & 190 & $80.00 & $15,200 & & $80.00 & $ & & $80.00 & $ \\ \hline \multicolumn{10}{|l|}{ Purchases: } \\ \hline March 5 & 490 & $85.00 & 41,650 & & $85.00 & 0 & & $85.00 & 0 \\ \hline March 18 & 300 & $90.00 & 27,000 & & $90.00 & 0 & & $90.00 & 0 \\ \hline March 25 & 380 & $92.00 & 34,960 & & $92.00 & 0 & & $92.00 & 0 \\ \hline \end{tabular}