Required information Problem 6-1A Perpetual: Alternative cost flows LO P1 Skip to question [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. Date Activities Units Acquired at Cost Units Sold at Retail Mar. 1 Beginning inventory 120 units @ $51.40 per unit Mar. 5 Purchase 235 units @ $56.40 per unit Mar. 9 Sales 280 units @ $86.40 per unit Mar. 18 Purchase 95 units @ $61.40 per unit Mar. 25 Purchase 170 units @ $63.40 per unit Mar. 29 Sales 150 units @ $96.40 per unit Totals 620 units 430 units Problem 6-1A Part 3 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 75 units from beginning inventory and 205 units from the March 5 purchase; the March 29 sale consisted of 55 units from the March 18 purchase and 95 units from the March 25 purchase.