Module II: Week 6: Chapter 7: Problem Solving Assignment Warnerwoods Company uses a perpetual inventory system. It entered into the following purchases and sales transactions for March. (For special identification, the March 9 sale consisted of 80 units from beginning inventory and 340 units from March 5 purchase; the March 29 sale consisted of 40 units from the March 18 purchase and 120 units from the March 25 purchase.) Date Activities March 1 March 5 March 9 March 18 March 25 March 29 Beginning Inventory Purchase Sales Purchase Purchase Sales Totals Units Acquired at Units Sold at Retail Cost 100 units @ $50/unit 400 units @ $55/unit 420 units @ $85/unit 120 units @$60/unit 200 units @ $62/unit 160 units @ $95/unit 820 units 580 units 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