WOTELL sa peri- aree pur- specific amounts Warnerwoods company uses a perpetual inventory system. It entered into the following purcha sales transactions for March. (For specific identification, the March 9 sale consisted of 80 units system. It entered into the following purchases and winning inventory and 340 units from the March 5 purchase: the March 29 sale consisted on h March 18 purchase and 120 units from the March 25 purchase.) PROBLEM SET A Problem 6-1A Perpetual: Alternative cost flows P1 Date Activities Units Acquired at Cost Units Sold at Retail 100 units a $50.00 per unit 400 units @ $55.00 per unit Mar. 1 Mar. 5 Mar. 9 Mar. 18 Mar. 25 Mar. 29 420 units @ $85.00 per unit Beginning inventory.. oy........... Purchase...... Sales Purchase......... Purchase Sales ......... Totals.......... 120 units @ $60.00 per unit 200 units @ $62.00 per unit 160 units @ $95.00 per unit 580 units 820 units eriodic se and Required 1. Compute cost of goods available for sale and the number of units available for sale. 2. Compute the number of units in ending inventory. 3. Compute the cost assigned to ending inventory using (a) FIFO, (b) LIFO, (c) weighted average, and (d) specific identification. (Round all amounts to cents.) 4. Compute gross profit earned by the company for each of the four costing methods in part 3. Check (3) Ending inventory: FIFO. $14,800: LIFO. $13.680: WA. $14.352 (4) LIFO gross profit. $17.980 cost of er unit