Warnerwoods Company uses a perpetual inventory system. It entered into the following purchases and sales transactions for March.

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Warnerwoods Company uses a perpetual inventory system. It entered into the following purchases and sales transactions for March.

$\backslash$table$[[$Date$,$Activities,Units Acquired at Cost,Units Sold at Retail$],[$March $1,$Beginning inventory,$70$ units @ $$50\mathrm{.}40$ per unit,$],[$March $5,$Purchase,$210$ units @ $$55\mathrm{.}40$ per unit,$],[$March $9,$Sales,,$230$ units @ $$85\mathrm{.}40$ per unit$],[$March $18,$Purchase,$70$ units @ $$60\mathrm{.}40$ per unit,$],[$March $25,$Purchase,$120$ units @ $$62\mathrm{.}40$ per unit,$],[$March $29,$Sales,,$100$ units @ $$95\mathrm{.}40$ per unit$],[$Totals$,470$ units,$330$ units$]]$

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 $50$ units from beginning inventory, $180$ units from the March $5$ purchase, $30$ units from the March $18$ purchase, and $70$ units from the March $25$ purchase.

Complete this question by entering your answers in the tabs below.

$\backslash$table$[[$Perpetual FIFO Perpetual LIFO,$\backslash$table$[[$Weighted$],[$Average$]],$Specific Id$]]$

Compute the cost assigned to ending inventory using FIFO.

$\backslash$table$[[$Perpetual FIFO:$],[$Date$,$Goods Purchased,Cost of Goods Sold,Inventory Balance$],[$# of units,$\backslash$table$[[$Cost per$],[$unit$]],\backslash$table$[[$# of units$],[$sold$]],\backslash$table$[[$Cost per$],[$unit$]],$Cost of Goods Sold,# of un$,,\backslash$table$[[$Cost per$],[$unit$]],,\backslash$table$[[$Inventory$],[$Balance$]]],[$March $1,,,,,,70,$at$,$$$50\mathrm{.}40,=,$$$3,528\mathrm{.}00$ctivitiesUnits Acquired at CostUnits Sold at RetailMarch $1$Beginning inventory$70$units@ $$50\mathrm{.}40$ per unit March $5$Purchase$210$units@ $$55\mathrm{.}40$ per unit March $9$Sales $230$units@ $$85\mathrm{.}40$ per unitMarch $18$Purchase$70$units@ $$60\mathrm{.}40$ per unit March $25$Purchase$120$units@ $$62\mathrm{.}40$ per unit March $29$Sales $100$units@ $$95\mathrm{.}40$ per unit Totals $470$ units $330$ units

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 $50$ units from beginning inventory, $180$ units from the March $5$ purchase, $30$ units from the March $18$ purchase, and $70$ units from the March $25$ purchase.

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