Problem Chapter 6 (60 points) Warnerwoods Company uses a perpetual inventory system. It entered into the following purchases and sales transactions for March. (For specific identification, the March 9 sale consisted of 80 units from beginning inventory and 340 units from the 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 Beginning Inventory March 5 Purchase March 9 Sales March 18 Purchase March 25 Purchase March 29 Sales Units Acquired at Units Sold at Retail Cost 100 units @ $50 per unit 400 units @ $55 per unit 420 units @ $85 per unit 120 units @ $60 per unit 200 units @ $62 per unit 160 units @ $95 per unit 1. Compute cost of goods available for sale and the number of units available for sale. (10 points) 2. Compute the number of units in ending inventory. (10 points) 3. Compute the cost assigned to ending inventory using (a) FIFO (b) LIFO, (c) weighted average, and (d) specific identification. (40 points)