PROBLEM SET A Problem 6-1A Perpetual: Alternative cost flows P1 connect Warnerwoods Company uses a perpetual inventory system. It entered into the following purchases and sales transactions for March. (For specific identification, units sold consist of 80 units from beginning inventory, 340 units from the March 5 purchase, 40 units from the March 18 purchase, and 120 units from the March 25 purchase Date Activities Units Acquired at Cost Units Sold at Retail Mar 1 Beginning inventory.... 100 units $50 per unit Purchase 400 units o $55 per unit Mar. 9 Sales... 420 units o$85 perunt Mar 18 Purchase 120 units 560 per unit Purchase 200 units 362 per unit Sales 160 units 595 per unit Totals 820 units 580 units Mar. 5 Mar 25 Mar. 29 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. (6) 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