Wamerwoods 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 $50.00 per unit 400 units $55.00 per unit Date Mar. 1 Beginning inventory Mar. 5 Purchase Mar. 9 Sales Mar. 18 Purchase Mar. 25 Purchase Mar. 29 Sales Activities 420 units$85.00 per unit 120 units @ $60.00 per unit 200 units $62.00 per unit 160 units& $95.00 per unit 580 units 820 units Totals MMBURU ACCT& 201 Problem 6-1A COST OF GOODS SOLD FIFO BALANCE PURCHASES ATE UNITS | @ | TOTAL | UNITS | @--TOTAL-UNITS +0-TOTAL Mar 1 5 Zo GO 0 29 54, 400 TOTAL 1 :126 LIFO Problem 6-1A COST OF GOODS SOLD UNITS | @ | TOTAL | UNITS! @ TOTAL | UNITS! @| TOTAL DATE PURCHASES BALANCE Mar 1 3. Go to page 61 of your lecture guide and refer to the FIFO inventory cost sheet. Record the required journal entries from March 5th to March 29th using the following assumptions: (10 points) Aec rau a. All sales are credit sales at 1/5, n/15 and thatall ustomers pay within the discount period. Acc rnab All purchases are credit purchases at 1/10, n720 and that Warnerwoods Company takes advantage No nompany of all cash discounts. n c. When recording the receivable or payable, use the control account since it is impossible to tell the name of the customer or that of the supplier Page 1 of1 ou must be the change pou wish to see in the world-cMahatma andhi