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27 Part 3 of 4 5 points Required information Problem 5-1A (Algo) Perpetual: Alternative cost flows LO P3 [The following information applies to the questions
27 Part 3 of 4 5 points Required information Problem 5-1A (Algo) Perpetual: Alternative cost flows LO P3 [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 March 1 March 5 Units Acquired at Cost 70 units @$50.40 per unit Units Sold at Retail Activities Beginning inventory Purchase 210 units March 9 Sales March 18 March 25 March 29 Sales Purchase Purchase 70 units 120 units $55.40 per unit $60.40 per unit $62.40 per unit 230 units @ $85.40 per unit Totals. 470 units 100 units @ $95.40 per unit 330 units Problem 5-1A (Algo) 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, units sold include 50 units from beginning inventory, 180 units from the March 5 purchase, 30 units from the March 18 purchase, and 70 units from the March 25 purchase. 27 Required information Part 3 of 4 Perpetual FIFO Perpetual LIFO Weighted Average Specific Id 5 points Compute the cost assigned to ending inventory using FIFO. Goods Purchased Perpetual FIFO: Cost of Goods Sold Date # of units Cost per Cost # of units sold unit per unit Cost of Goods Sold # of units per Inventory Balance Cost Inventory Balance unit March 1 70 at 50.40 $ 3,528.00 210 at 55.40 70 at March 5 55 $3,528.00 50.40 $ 210 at = 55.40 11,634.00 Total March 5 S 15,162.00 70 at March 9 50.40 = $ 3,528.00 280 160 at 8,864.00 50.40 14,112.00 55.40 50 at 2,770.00 55.40 Total March 9 $ 12,392.00 16,882.00 5 27 Part 3 of 4 Required information Total March 9 points March 18 Total March 18 March 25 Total March 25 S 70 at 60.40 120 at $ 62.40 $ 12,392.00 16,882.00 50 > > $ 50 at $2.520.00 50.40 at 2,770.00 55.40 $ 70 at 4,228.00 60.40 $9,518.00 120 at $ 6,048.00 50.40 $ 50 at 2,770.00 55.40 $ 120 229 70 at 4,228.00 60.40 $ at 7,488.00 62.40 $ 20,534.00 50 at $ 50.40 $ = $ 2,520.00 240 at $ 2,770.00 20at 50.40 $ 12,096.00 = 1,108.00 55.40 55.40 $ = 6,040.00 140 at HP 60.40 $ 20,592.00 140 $ = 8,456.00 60.40 $ at " 8,736.00 62.40 62 40 March 29 50 at 100 at 330 at 27 Required information Part 3 of 4 March 25 5 points Total March 25 120 at 62.40 $ 120 at $ 6,048.00 50.40 $ 50 at = 2,770.00 55.40 $ 70 at = 4,228.00 60.40 $ 120 at 7,488.00 62.40 S 20,534.00 = $ 2,520.00 240 at = 50.40 12,096.00 $ = 2,770.00 20at = 1,108.00 55.40 $ 6,040.00 140at 8,456.00 60.40 S 20,592.00 140 at = 62.40 8,736.00 $ $ 31,922.00 30,396.00 $ 44,314.00 30,396.00 Perpetual Firo Perpetual LIFO > 50 at 50.40 $ 50 at 55.40 March 29 $ 100 at 60.40 330 30 $ at = 62.40 Total March 29 Totals 27 Required information Part 3 of 4 Perpetual FIFO Perpetual LIFO Weighted Average Specific Id 5 points Compute the cost assigned to ending inventory using LIFO. Goods Purchased Perpetual LIFO: Cost of Goods Sold Date # of units Cost per Cost Cost # of units sold unit per unit Cost of Goods Sold # of units per Inventory Balance Inventory Balance unit March 1 70 at $ 3,528.00 50.40 2106 at 70 at S 55.40 50.40 $ 3,528.00 March 5 $ 210 at 55.40 Total March 5 11,634.00 $15,162.00 March 9 Total March 9 70 70 at an an 210 at 20at 50.40 $ 10,584.00 at 50.40 55.40 1,108.00 500 $ 2,770.00 55.40 $ 11,692.00 $ 2,770.00 50 at an $ 2,520.00 27 Required information. $ 70 at 60.40 Part 3 of 4 March 18 e 5 Total March 18 points 120 at 62.40 March 25 Total March 25 March 29 Total March 29 Totals $ 50 at 50.40 $ 70 at = 55.40 $ 120 at 60.40 $ 2,520.00 3,878.00 7,248.00 $13,646.00 50 at $ $ 2,520.00 50.40 $ 70 at 3,878.00 55.40 $ 120 at = 7,248.00 60.40 $ 240 at 14,976.00 62.40 $28,622.00 $ 100 at $ 5,040.00 50 at 50.40 50.40 $ 0at 0.00 70 at 55.40 55.40 $ $ oat 0.00 20at 60.40 60.40 100 at $ S 6,240.00 140 at 62.40 62.40 $ 11,280.00 $ 22,972.00 = = $ 2,520.00 3,878.00 1,208.00 8,736.00 $ 16,342.00 $ 16,342.00 27 Comniata thie Augerian nu anrarinn unur aneware in the rane halow Required information Perpetual FIFO Perpetual LIFO Weighted Average Specific Id Part 3 of 4 5 points Compute the cost assigned to ending inventory using specific identification. For specific identification, units sold include 50 units from beginnin 5 purchase, 30 units from the March 18 purchase, and 70 units from the March 25 purchase. Specific Identification: Goods Purchased Cost of Goods Sold Inventory Balance Date Cost # of units per Goods Puchased # of units sold Cost per Cost Cost of Goods Sold # of units per Inventory Balance unit unit unit $ $ March 11 70 at 50.40 $ 3,528 50 at $ 2,520.00 50 at $ 2,520.00 50.40 50.40 March 5 $ S 210 at = 11,634 180 at = 9,972.00 55.40 180 at = 55.40 55.40 9,972.00 March S $ S 70 at = 4,228 30at = 1,812.00 30 at = 18 60.40 60.40 60.40 March $ $ S 120 at 25 62.40 $ 7,488 70 at 62.40 Totals 4,368.00 $18,672.00 70 at " 1,812.00 4,368.00 62.40 $18,672.00
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