Warnerwoods Company uses a perpetual inventory system. It entered into the following purchases and sales transactions for March. Date. Activities March 1 Beginning inventory 210 units Units Acquired at Cost $53.20 per unit Units Sold at Retail March 5 Purchase 280 units $58.20 per unit March 9 Sales 370 units $88.20 per unit March 18 Purchase March 25 Purchase 140 units 260 units $63.20 per unit $65.20 per unit March 29, Sales Totals 890 units 240 units @ $98.20 per unit 610 units 3. Compute the cost assigned to ending inventory using (a) FIFO, (b) LIFO, (c) weighted average, and (d) specific identification. For specific identification, units sold include 120 units from beginning inventory, 250 units from the March 5 purchase, 100 units from the March 18 purchase, and 140 units from the March 25 purchase. Complete this question by entering your answers in the tabs below. 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: Goods Purchased Cost of Goods Sold Date # of units Cost per unit # of units sold Cost per unit Cost of Goods Sold # of units 210 at 280 at $58.20 210 at 280 at March 1 March 5 Total March 5 March 9 Total March 9 March 18 Total March 18 March 25 Inventory Balance Cost per unit $ 53.20 = $53.20= $58.20 = Inventory Balance $ 11,172.00 $ 11,172.00 16,296.00 $ 27,468.00 at $ 53.20 = $ 0.00 O at $53.20 at $58.20 = 0.00 at $ 58.20 March 25 Total March 25 March 29 Total March 29 Totals $ 0.00 Perpetual FIFO Perpetual LIFO > 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 LIFO. Goods Purchased Date # of units Cost per # of units unit sold Perpetual LIFO: Cost of Goods Sold Cost per unit Inventory Balance Cost per Inventory Cost of Goods Sold # of units unit Balance 210 at $53.20= $ 11,172.00 March 1 March 5 Total March 5 March 91 Total March 9 March 18 Total March 18 March 25 Total March 18 March 25 Total March 25 March 29 Total March 29 Totals $ 0.00 < Prev 6 7 of 8 Next > 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 weighted average. (Round your average cost per unit to 2 decimal places.) Weighted Average Perpetual: Date # of units Goods Purchased Cost per unit Cost of Goods Sold # of units sold Inventory Balance. Cost per Cost per unit Cost of Goods Sold # of units Inventory Balance unit 210 at $ 53.20= $ 11,172.00 March 1 March 5 Average March 5 March 9 March 18 Average March 18 March 25 Average March 25 March 29 Totals $ 0.00 Perpetual FIFO Perpetual LIFO Weighted. Average Specific Id Compute the cost assigned to ending inventory using specific identification. For specific identification, units sold include 120 units from beginning inventory, 250 units from the March 5 purchase, 100 units from the March 18 purchase, and 140 units from the March 25 purchase. Specific Identification Goods Available for Sale Cost of Goods Sold Ending Inventory Date # of units Cost per Cost of Goods Available for unit # of units sold Cost per unit Cost of Goods Sold # of units in ending Cost per Ending unit Inventory Sale Inventory $ 0 $ 0.00 $ $ 0.00 $ 0 0 0.00 0 0.00 0 0 0.00 0 0.00 0.00 0 0 $ 0 $ 0 0 $ 0 March 11 March 5 March 18 March 25 Total 4. Compute gross profit earned by the company for each of the four costing methods. For specific identification, units sold include 120 units from beginning inventory, 250 units from the March 5 purchase, 100 units from the March 18 purchase, and 140 units from the March 25 purchase. (Round weighted average cost per unit to two decimals and final answers to nearest whole dollar.) Gross Margin Sales Less: Cost of goods sold Gross profit FIFO LIFO Weighted Average Specific ID