Warnerwoods Company uses a perpetual inventory system. It entered into the following purchases and sales transactionsfor March.Units Sold at RetailUnits Acquired at Cost100 units @ $50 per unit400 units@ $55 per unitDateMar.Mar.Mar.Mar. 18 PurchaseMar. 25 PurchaseMar. 29 SalesActivities1 Beginning inventory5 Purchase9 Sales420 units @ $85 per unit120 units @ $60 per unit200 units @ $62 per unit160 units @ $95 per unitTotals820 units580 units3. Compute the cost assigned to ending inventory using (a) FIFO, (b) LIFO, (c) weighted average, and (d) specific identification. Forspecific identification, the March 9 sale consisted of 80 units from beginning inventory and 340 units from the March 5 purchase; theMarch 29 sale consisted of 40 units from the March 18 purchase and 120 units from the March 25 purchase.esComplete this question by einering your answers in the tabs below.Perpetual FIFO Perpetual LIFOWeightedAverageSpecific IdCompute the cost assigned to ending inventory using weighted average. (Round your average cost per unit to 2 decimal places.)Weighted Average Perpetual:Goods PurchasedCost of Goods SoldInventory Balance# ofunits# of unitssoldCostCostCostInventoryBalanceDateCost of Goods Sold# of unitsper unitper unitper unitMarch 1100 @$50.005,000.00March 5400 @$55.00100 @$50.00 =5,000.00400 @$55.00 =22,000.00Average500 @$54.00 =$27,000.00March 9420 @$54.0022,680.0080 @$54.00 =4,320.00March 18120 @$60.0080 @$54.00 =4,320.007,200.00$11,520.00%3D120 @$60.00 =Average200 @$57.00 =%3DMarch 25200$62.0080 @$57.00 =4,560.00120 @$62.00 =7,440.00$ 12,000.00200 @$59.80 =March 29Totals22,680.00%24%24%24%24%24%3D%24%24

Name: Warnerwoods Company uses a perpetual inventory system. It entered int
Uploaded: 2024-03-20T06:32:37.000Z
Channel: Bartleby
Description: Warnerwoods Company uses a perpetual inventory system. It entered into the following purchases and sales transactionsfor March.Units Sold at RetailUnits Acquired at Cost100 units @ $50 per unit400 units@ $55 per unitDateMar.Mar.Mar.Mar. 18 PurchaseM