0 Required information Problem 6-1A Perpetual: Alternative cost flows LO P1 (The following information applies to the questions displayed below) 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 130 units @ $51.60 per unit 240 units @ $56.60 per unit 290 units @ $86.60 per unit Date Activities Mar. 1 Deginning inventory Mar. 5 Purchase Mar. 9 Sales Mar. 18 Purchase Mar. 25 Purchase Mar. 29 Sales Totals 100 units @ $61.60 per unit 180 units e $63.60 per unit 160 unita $96.60 per unit 450 units 650 units Problem 6-1A Part 3 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 80 units from beginning inventory and 210 units from the March 5 purchase; the March 29 sale consisted of 60 units from the March 18 purchase and 100 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: Cost of Goods Sold Goods Purchased # of units unit Cost per Date # of units sold Cost per cost of Goods Sold Cost per Inventory Balance # of units Inventory unit Balance 130 @ $ 51.60 = $ 6,708.00 unit March 1 March 5 March 9 March 18 March 25 March 29 $ 0.00 Totals Perpetual FIFOPerpetual LIFO Weighted Average Specific Id Compute the cost assigned to ending inventory using LIFO. Perpetual LIFO: Cost of Goods Sold Goods Purchased # of Cost per units unit # of units sold Cost per cost of Goods Sold Date Inventory Balance Cost per # of units Inventory unit Balance 130 @ $ 51.60 = $ 6,708.00 unit March 1 March 5 March 9 March 18 March 25 March 29 $ 0.00 Totals Perpetual FIFO Perpetual LIFO Weighled Average Specific Id Compute the cost assigned to ending inventory using weighted average. (Round your average cost per unit to 2 decimal places.) Inventory Balance Weighted Average Perpetual: Goods Purchased # of Date units unit March 1 Cost per Cost of Goods Sold # of units Cost per cost of Goods Sold sold unit Cost per # of units Inventory Balance unit $ 51.60 - $ 6,708.00 130 @ March 5 Average March 9 March 18 Average March 25 March 29 Totals $ 0.00 Weighted Perpetual FIFO Perpetual LIFO Average Specific id Compute the cost assigned to ending Inventory using specific identification. For specific identification, the March 9 sale consisted of 80 units from beginning inventory and 210 units from the March 5 purchase; the March 29 sale consisted of 60 units from the March 18 purchase and 100 units from the March 25 purchase. Specific Identification Goods Purchased Cost of Goods Sold Inventory Balance #of Cost per Date # of units Cost per Cost of Goods Cost per # of units Inventory Balance units unit sold unit Sold unit March 1 130 $51.603 6.708.00 March 5 March 9 March 18 March 25 March 29 $ 0.00 Totals