Warnerwoods Company uses a perpetual inventory system. It entered into the following purchases and sales transactions for March Date Activities Units Acquired at Cost Units Sold at Retail Mar. 1 Beginning inventory 100 units@ $50.00 per unit Mar. 5 Purchase 400 units @ $55.00 per unit Mar. 9 Sales 420 units @ $85.00 per unit Mar. 18 Purchase 120 units @ $60.00 per unit Mar. 25 Purchase 200 units @ $62.00 per unit Mar. 29 Sales 160 units a $95.00 per unit Totals 828 units 580 units Problem 5-1A Part 3 3. Compute the cost assigned to ending inventory using (0) FIFO, (b) LIFO, (c) weighted average, and (d) specific identification. For specific identification, the Morch 9 sale consisted of 80 units from beginning inventory and 340 units from the March 5 purchase; the March 29 sale consisted of 40 units from the March 18 purchase and 120 units from the March 25 purchase. Perpetual FIFO Goods Purchased #of Cost per units unit Cost of Goods Sold #of units Cost per Cost of Goods sold unit Sold Inventory Balance Cost per Inventory # of units unit Balance 100 @ $50,00 = $5,000.00 Date March 1 March 5 March 9 March 18 March 25 March 29 Perpetual LIFO: Cost of Goods Sold Goods Purchased # of Cost per units unit # of units sold Date Inventory Balance Cost per Inventory # of units unit Balance 100 @ $50.00 $5,000.00 Cost per Cost of Goods unit Sold March 1 March 5 March 9 March 18 March 25 Weighted Average Perpetual: Goods Purchased # of Cost per Date units unit March 1 March 5 Cost of Goods Sold # of units Cost per Cost of Goods sold unit Sold Inventory Balance Cost per Inventory # of units unit Balance 100 @ $ 50.00 - $ 5,000.00 Average March 9 March 18 Average March 25 $ March 29 Totals 0.00 Perpetual LIFO Specified > Specific Identification: Goods Purchased Inventory Balance # of units # of units Cost per unit Cost of Goods Sold # of units Cost per Cost of Goods sold unit Sold Date March 1 Cost per unit $ 50,00 - Inventory Balance $5,000.00 100 @ March 5 March 9 March 18 March 25 March 29 S