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and 7 i Saved Help Save & E [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 200 units @ $53.00 per unit 275 units @ $58.00 per unit Date March 1 March 5 March 9 March 18 March 25 March 29 Activities Beginning inventory Purchase Sales Purchase Purchase Sales Totals 360 units @ $88.00 per unit 135 units @ $63.00 per unit 250 units @ $65.00 per unit 230 units @ $98.00 per unit 590 units 860 units Compute the cost assigned to ending inventory using (a). FIFO, (b) LIFO, (C) weighted average, and (d) specific identification. For Decific identification, units sold include 115 units from beginning inventory, 245 units from the March 5 purchase, 95 units from the March 18 purchase, and 135 units from the March 25 purchase. Complete this question by entering your answers in the tabs below. 4. Compute gross profit earned by the company for each of the four costing methods, For specific identification, units sold include 1- units from beginning inventory, 245 units from the March 5 purchase, 95 units from the March 18 purchase, and 135 units from the March 25 purchase. (Round weighted average cost per unit to two decimals and final answers to nearest whole dollar.) Gross Margin FIFO LIFO Weighted Average Specific ID Sales Less: Cost of goods sold Gross profit petual FIFO Perpetual LIFO Weighted Average Specific Id Compute the cost assigned to ending inventory using specific identification. For specific identification, units sold include 115 units from be units from the March 5 purchase, 95 units from the March 18 purchase, and 135 units from the March 25 purchase. Specific Identification Goods Available for Sale Cost of Goods Sold Ending Inventory Date Cost per # of units Cost per Cost of Goods Sold unit Ending Inventory # of units in ending inventory 200 200 March 1 0 $ 0 $ 0.00 $ 0 275 Cost of Goods # of units Cost per Available for unit sold unit Sale $ 0.00 $ 0 200 $ 0.00 58.00 15,950 0 58.00 63.00 8,505 63.00 65.00 16,250 $ 40,705 200 0 58.00 March 5 March 18 March 25 11,600 135 0 0 250 63.00 65.00 0 Total 660 $ 0 400 $ 11,600