1. Warnerwoods Company uses a perpetual inventory system. It entered into the following purchases and sales transactions for March.

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Units Sold at Retail Units Acquired at Cost 150 units@ $52.00 per unit 250 units@ $57.80 per unit 310 units @ $87.80 per unit Date Activities Mar. 1 Beginning inventory Mar. 5 Purchase Mar. 9 Sales Mar 18 Purchase Mar. 25 Purchase Mar. 29 Sales Totals 110 units @ $62.8e per unit 200 units @ $64.88 per unit 180 units@ $97.00 per unit 49e units 710 units 3. Compute the cost assigned to ending inventory using (a) FIFO. (b) LIFO. (c) weighted average, and (d) specific identification. For -pecific identification, the March 9 sale consisted of 90 units from beginning inventory and 220 units from the March 5 purchase, the March 29 sale consisted of 70 units from the March 18 purchase and 110 units from the March 25 purchase. Compute the cost assigned to ending inventory using FIFO. Perpetual FIFO: Goods Purchased Cost Cost of Goods Sold Cost Cost of Goods Sold unit Inventory Balance Cost Inventory per Balance # of units Date | # of units sold per per of units unit unit March 1 150 @ $7.800.00 March 5 250 @ 7.00 150 @ 62.00 = - = 250 57.00 $7,800.00 14.250.00 22.050.00 54.680.00 14.250.00 March 9 150 160 @ @ 62.00 $7.00 = = $ 7.800.00 9,120.00 $ 16,920.00 0 250 @ @ 62.00 S $7.00 = = 18.980.00 March 18 110 @ 62.00 150 @ Oo $ 7.800.00 5.130.00 6.820.00 19.750,00 March 25 200 @ 64.00 @ $2.00 $ 4.680.00 6,270.00 12.400.00 1,280.00 T , March 20 o @ 52.00 20 @ 24.630.00 S 1.040.00 11.400.00 13.640.00 57.00 20 200 220 0.00 5.130.00 0.00 0.00 5.130.00 @ e @ ,,,, 62.00 62.00 ,, @ 64.00 s 28.080.00 Totals s 22.050.00 28.080.00 Perpetual LIFO: Goods Purchased Cost of Goods Sold Cost of units Cost Inventory Balance Cost Inventory per Balance Cost of Goods Date per # of units units per unit sold Sold March 1 150 @ 62.00 - $ 7,800.00 March 5 250 @ 67.00 52.00 57.00 March 9 March 18 1100 @ 2.000 62.00 March 25 2000@ 84.000 62.00 64.00 March 29 Totals 0.00 Weighted Average Perpetual: Goods Purchased # of Cost Date per units unit March 1 # of units sold Cost of Goods Sold Cost Cost of Goods per Sold # of units Inventory Balance Cost Inventory per unit Balance 150 @ 62.00 = $ 7.800.00 March 5 Average March 9 March 18 Average March 25 March 29 Totals $ 0.00 Specific Identification: Goods Purchased Cost Date units Cost of Goods Sold Cost of units Cost of Goods per Inventory Balance Cost Inventory per Balance unit of units per unit of units Sold Sold unit March 1 150 62.00 = $ 7.800.00 March 5 March 9 March 18 March 25 March 29 Totals $ 0.00