Required information Problem 6-2AA Periodic: Alternative cost flows LO P3 [The following information applies to the questions displayed below) Warnerwoods Company uses a periodic inventory system. It entered into the following purchases and sales transactions for March Units sold at Retail Date Activities Mar. 1 Beginning inventory Mar. 5 Purchase Mar. 9 Sales Mar. 18 Purchase Mar. 25 Purchase Mar. 29 Sales Totals Units Aequired at Cost 140 units $75 per unit 440 unito e $80 per unit 200 units 585 per unit 280 units 587 per unit 460 units $110 per unit 240 units 5120 per unit 700 units 1,060 units For specific identification, the March 9 sale consisted of 90 units from beginning inventory and 370 units from the March 5 purchase; the March 29 sale consisted of 80 units from the March 18 purchase and 160 units from the March 25 purchase, 3. Compute the cost assigned to ending inventory using (a) FIFO, (D) LIFO, (c) weighted average, and (d) specific identification (Round your average cost per unit to 2 decimal places.) a) Periodic FIFO Cost of Goods Sold Ending Inventory Cost of Goods Available for Sale Cost of # of units Goods Available for Sale $ Cost per # of units sold Cost per unit Cost of Goods Sold # of units in ending Inventory Cost per unit Ending Inventory unit 0 $ 0.00 $ 0 $ 0.00 $ 0 0 $ 0 0.00 0 Beginning inventory Purchases March 5 March 18 March 25 Total 0.00 0.00 0 5 0 $ $ $ 0,00 0 0 0 0.00 0 0 0 b) Periodic LIFO Cast of Goods Sold Ending Inventory Cost of Goods Available for Salo Cost of # of units Cost per Goods unit Available for Sale w of units sold Cost per unit Cost of Goods Sold Cost per # of units In ending inventory unit Ending Inventory $ 0 0 Beginning inventory Purchases: March 5 March 18 March 25 Total 0 0 0 0 c) Average Cost Cost of Goods Sold Ending Inventory Cost of Goods Available for Sale Average Cost of # of units Cost per Goods Available unit for Sale W of units sold Average Cost per Unit Cost of Goods Sold #of units Average in onding Cost per Inventory unit Ending Inventory Beginning inventory Purchases March 5 March 18 March 25 Total $ 0 $ d) Spocific Identification Cost of Goods Available for Sale Cost of Goods Sold Ending Inventory Cost per Cost per Cost per # of units Cost of Goods Available for Sale # of units sold Cost of Goods Sold # of units In ending Inventory Ending Inventory unit unit unit $ 0 $ 0 0 0 Beginning inventory Purchases: March 5 March 18 March 25 Total 0 0 0 0 Required information Problem 6-2AA Periodic: Alternative cost flows LO P3 The following information applies to the questions displayed below) Warnerwoods Company uses a periodic inventory system. It entered into the following purchases and sales transactions for March Units Sold at Retail Date Activities Mar. 1 Beginning inventory Mar. 5 Purchase Mar. 9 Sales Mar. 18 Purchase Mar. 25 Purchase Mar. 29 Sales Totals Units Acquired at Cost 140 units @ $75 per unit 440 units e$0 per unit 200 units e$85 per unit 280 units @ $87 per unit 460 units e $110 per unit 1,060 units 240 unito e $120 per unit 700 unita For specific identification, the March 9 sale consisted of 90 units from beginning inventory and 370 units from the March 5 purchase, the March 29 sale consisted of 80 units from the March 18 purchase and 160 units from the March 25 purchase. Problem 6-2AA Part 4 4. Compute gross profit earned by the company for each of the four costing methods. (Round your average cost per unit to 2 decim places and final answers to nearest whole dollar) FIFO LIFO Weighted Average Specing Identification Sales Less: Cost of goods sold Gross profit $ 0 $ 0 $ 0 $