Required information Problem 6-1A 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 Units Sold at Retail Units Acquired at Cost 220 units @ $53.40 per unit 285 units @ $58.40 per unit 380 units @ $88.40 per unit Date Activities Mar. 1 Beginning inventory Mar. 5 Purchase Mar. 9 Sales Mar. 18 Purchase Mar. 25 Purchase Mar. 29 Sales Totals 145 units @ $63.40 per unit 270 units @ $65.40 per unit 250 units @ $98.40 per unit 630 units 920 units Perpetual FIFO Perpetual LIFO Weighted Average Specific Id Compute the cost assigned to ending inventory using specific identification. For specific identification, the March 9 sale consisted of 125 units from beginning inventory and 255 units from the March 5 purchase; the March 29 sale consisted of 105 units from the March 18 purchase and 145 units from the March 25 purchase. Specific Identification: Goods Purchased # of Cost per Date units unit March 1 Cost of Goods Sold # of units Cost per Cost of Goods sold unit Sold Inventory Balance # of units Cost per Inventory Balance unit 220 @ $53.40 = $ 11,748.00 220 @ $53.40 = $ 11,748.00 285 @ $ 58.40 = 16,644.00 $ 28,392.00 March 5 285 @ $ 58.40 March 9 = 125 @ $ 6,675.00 220 @ @ $ 53.40 $ 58.40 $ 11,748.00 0.00 $ 53.40 = $ 58.40 = = $ 11,748.00 $ 6,675.00 March 18 145 @ $63.40 @ @ @ $ 53.40 $ 58.40 $63.40 March 25 270 @ $ 65.40 @ @ @ @ $53.40 $ 58.40 $63.40 $ 65,40 March 29 20 145 Totals $ 11,748.00