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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 Units Sold at Retail Units Acquired at Cost 60 units @ $50.20 per unit 205 units @ $55.20 per unit Date March 1 March 5 March 9 March 18 March 25 March 29 Activities Beginning inventory Purchase Sales Purchase Purchase Sales Totals 220 units @ $85.20 per unit 65 units 110 units @ $60.20 per unit @ $62.20 per unit 99 units @ $95.20 per unit 310 units 440 units 3. Compute the cost assigned to ending inventory using (a) FIFO, (b) LIFO, (C) weighted average, and (d) specific identification. For specific identification, units sold include 45 units from beginning inventory, 175 units from the March 5 purchase, 25 units from the March 18 purchase, and 65 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. Cost of Goods Sold Date Goods Purchased LI # of units Cost per # of units unit sold Cost per Cost of Goods Sold unit Inventory Balance # of units Cost per Inventory unit Balance 60 at $ 50 2011 $ 3,012.00 March 1 March 5 Total March 5 March 9 Total March 9 March 18 Total March 18 March 25 Total March 25 March 29 Total March 29 Totals GID Prey 5 of 5 Perpetual FIFO Perpetual LIFO Weighted Average Specific Id Compute the cost assigned to ending inventory using LIFO. Perpetual LIFO: Cost of Goods Sold LE Date Goods Purchased Cost per # of units unit # of units sold Cost per cost of Goods Sold Inventory Balance Cost per # of units Inventory unit Balance 60 at $ 50.20 = $ 3,012.00 unit March 1 March 5 Total March 5 March 9 Total March 9 March 18 Total March 18 March 25 Total March 25 March 29 Total March 29 Totals 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 weighted average. (Round your average cost per unit to 2 decimal places.) Weighted Average Perpetual: Cost of Goods Sold Goods Purchased Inventory Balance Date Cost per # of units # of units sold unit Cost per unit Cost per Cost of Goods Sold # of units unit Inventory Balance March 1 60 at $ 50.20 $ 3,012.00 March 5 Average March 5 March 9 March 18 Average March 18 March 25 Average March 25 March 29 Totals Perpetual FIFO Perpetual UFO Weighted Average Specific id Compute the cost assigned to ending inventory using specific identification. For specific identification, units sold include 45 units from beginning inventory, 175 units from the March 5 purchase, 25 units from the March 18 purchase, and 65 units from the March 25 purchase. Specific Identification: Goods Purchased Cost of Goods Sold Inventory Balance Date Cost per # of units # of units sold # of units al at 60 at 205 al unt 350 20 $ 55 20 $ 60.20 56220 Goods Puchased $ 3012 11.316 3.913 S 6342 March 1 March 5 March 18 March 25 Cost per cost of Goods Sold unit 5 50 20 5 55 20 560 20 $ 62.20 Cost per Inventory Balance unit $50 20 = $ 55 20 $ 60 20 al at 65 at al 110 al at Totals