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 200 units @ $53.00 per unit 275 units@ $58.00 per unit Date Activities Mar. 1 Beginning inventory Mar. 5 Purchase Mar. 9 Sales Mar. 18 Purchase Mar. 25 Purchase Mar. 29 Sales Totals 360 units @ $88.00 per unit 135 units @ $63.00 per unit 250 units @ $65.00 per unit 230 units @ $98.00 per unit 590 units 860 units Required: 1. Compute cost of goods available for sale and the number of units available for sale. Cost of Goods Available for Sale # of units Cost per Cost of Goods Available Unit for Sale Beginning inventory Purchases: March 5 March 18 March 25 Total 2. Compute the number of units in ending inventory. Ending inventory 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 115 units from beginning Inventory and 245 units from the March 5 purchase; the March 29 sale consisted of 95 units from the March 18 purchase and 135 units from the March 25 purchase. Complete this question by entering your answers in the tabs below. Perpetual FIFO Perpetual LIFO Weighted Average Specific Id Compute the cost assigned to ending inventory using FIFO. Perpetual FIFO: Inventory Balance Goods Purchased # of units unit Cost per # of units sold Date Cost of Goods Sold Cost per Cost of Goods Sold unit # of units Cost per unit $ 53.00 = Inventory Balance $ 10.600.00 March 1 200 @ March 5 March 9 March 18 March 25 4. Compute gross profit earned by the company for each of the four costing methods. For specific identification, the March 9 sale consisted of 115 units from beginning Inventory and 245 units from the March 5 purchase; the March 29 sale consisted of 95 units from the March 18 purchase and 135 units from the March 25 purchase. (Round weighted average cost per unit to two decimals and final answers to nearest whole dollar.) FIFO LIFO Avg. Cost Spec. ID Gross Margin Sales Less: Cost of goods sold Gross profit