Required information Problem 5-1A Perpetual: Alternative cost flows LO P1 [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. t Units Sold at Retail Units Acquired at Cost 230 units @ $53.60 per unit 290 units @ $58.60 per unit 390 units@ $88.60 per unit Date Activities Mar. 1 Beginning inventory Mar. 5 Purchase Mar. 9 Sales Mar. 18 Purchase Mar. 25 Purchase Mar. 29 Sales Totals 150 units @ $63.60 per unit 280 units @ $65.60 per unit 260 units @ $98.68 per unit 650 units 950 units Required: 1. Compute cost of goods available for sale and the number bf units available for sale. Cost of Goods Available for Sale Cost of Goods Available # of units Unit for Sale Cost per Beginning inventory Purchases March 5 March 18 March 25 Total 2. Compute the number of units in ending inventory. Ending inventory 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 130 units from beginning inventory and 260 units from the March 5 purchase; the March 29 ale consisted of 110 units from the March 18 purchase and 150 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. 4. Compute gross profit earned by the company for each of the four costing methods. For specific identification, the March 9 sale consisted of 130 units from beginning inventory and 260 units from the March 5 purchase; the March 29 sale consisted of 110 units from the March 18 purchase and 150 units from the March 25 purchase. (Round weighted average cost per unit to two decimals and final answers to nearest whole dollar.) Gross Margin FIFO LIFO Avg. Cost Spec. ID Sales Less: Cost of goods sold Gross profit