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! Required information Perpetual FIFO Perpetual LIFO Weighted Average Specific Id Compute the cost assigned to ending inventory using FIFO. Perpetual FIFO: Goods Purchased Cost of Goods Sold Inventory Balance Date # of Cost per # of units Cost per units unit sold unit Cost of Goods Sold # of units Cost per Inventory unit Balance March 1 120@ $ 51.40 = $ 6,168.00 March 5 March 9 March 18 March 25 March 29 Totals 0.00 Required information [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. Date Activities Units Acquired at Cost Units Sold at Retail Mar. 1 Beginning inventory 120 units @ $51.40 per unit Mar . 5 Purchase 235 units @ $56.40 per unit Mar. 9 Sales 280 units @ $86.40 per unit Mar . 18 Purchase 95 units @ $61.40 per unit Mar . Purchase .40 per unit Mar . 79 Sales 150 units @ $96.40 per unit Totals 620 units 430 units 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 75 units from beginning inventory and 205 units from the March 5 purchase; the March 29 sale consisted of 55 units from the March 18 purchase and 95 units from the March 25 purchase. 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: Goods Purchased Cost of Goods Sold Inventory Balance Date # of Cost per # of units Cost per Cost per Inventory units unit sold unit Cost of Goods Sold # of units unit Balance March 1 120 @ $51.40 = $ 6,168.00 |March 5 |March 9 March 18