3. Compute the cost assigned to ending inventory using (a) FIFO, (b) LIFO, (c) weighted average, and (d) specific identification.
t 5-3, Week 5 Problems Required Information Problem 5-1AA Periodic: Alternative cost flows LO P1 [The following Information apples to the questlons displayed below Warnerwoods Company uses a perlodic inventory system. It entered Into the following purchases and sales transaction for March. Units Acquired at Cost 1e5 units $4# per unit Units Sold at Retail Date Activities 1 Beginning inventory Mar. Mar. s Purchase 495 units @ $45 per unit Mar 9 Sales 425 units @ $75 per unit 18 Purchase Mar. 130 units @$50 per unit 218 units $52 per unit Mar 25 Purchase 178 units @ $85 per unit Mar. 29 Sales 595 units Totals 850 units For specific Identification, the March 9 sale consisted of 70 units from beginning Inventory and 355 units from the Mar purchase: the March 29 sale consisted of 45 units from the March 18 purchase and 125 units from the March 25 purcha Problem 5-1AA Part 3 3. Compute the cost assigned to ending Inventory using (a) FIFO, (b) LIFO, (c)welghted average, and (d) specific Identificatio Complete this question by entering your answers in the tabs below. Weighted Average PeriodidaFO Specific Id aufia Periodic LIFO Compute the cost assigned to ending inventory using FIFO. Ending Inventory Cost of Goods Sold Cost of Goods Available for Sale a) Periodic FIFO Cost of Goods Available of units Cost of Gi Sold Ending Inventory Cost per unit Cost per unit #of units sold Cost per # of units inventory unit for Sale 0.00 0.00 S Beginning inventory Purchases: 0.00 0.00 0 March 5 0 0.00 0 0.00 March 18 000 March 25 Total Periodic LIFO> Required Information Problem 5-1AA Periodic: Alternative cost flows LO P1 [The following Information applies to the questlons displayed below.] Warnerwoods Company uses a perlodic Inventory system. It entered Into the following purchases and sales transaction for March. Date Activities Units Acquired at Cost 105 units @ $40 per unit Units Sold at Retail 1 Beginnng inventory S Purch Mar Mar. 405 units $45 per unit se Mar 9 Sales 425 units @ $75 per unit Mar. 18 Purchase 130 units@ $50 per unit Mar. 25 Purchase Mar. 29 Sales 210 units @ $52 per unit 170 units @ $85 per unit Totals 850 units 595 units For specific Identification, the March 9 sale consisted of 70 units from beginning Inventory and 355 units from the Mar purchase; the March 29 sale consisted of 45 units from the March 18 purchase and 125 units from the March 25 purcha Problem 5-1AA Part 3 3. Compute the cost assigned to ending Inventory using (a) FIFO, (b) LIFO, (c) welghted average, and (d) specific Identification Complete this question by entering your answers in the tabs below. Weighted Average Periodic LIFO Specific Id Periodic FIFO Compute the cost assigned to ending inventory using LIFO. Ending Inventory Cost of Goods Sold Cost of Goods Available for Sale ) Periodic LIFO Cost of Goods Available for Sale Cost of G Sold For units Cost per unit Ending Inventory # of units sold Cost per unit Cost per unit # of units inventory Beginning inventory Purchases: 0 March 5 March 18 March 25 Total Weighted Average > Periodic FIFO Required Information Problem 5-1AA Periodic: Alternative cost flows LO P1 The following information applies to the questions displayed below. Warnerwoods Company uses a perfodic Inventory system. It entered Into the following purchases and sales transactions for March Date Activities Units Acquired at Cost Units Sold at Retail 1 Beginning inventory Mar. 105 units R $40 per unit Mar. 5 Purchase 485 units $45 per unit Mar. 9 Sales 425 units @ $75 per unit 18 Purchase Mar. 130 units B $5e per unit 210 units @ $52 per unit 25 Purchase Man Mar. 29 Sales 170 units $85 per unit Totals 850 units 595 units For specific Identification, the March 9 sale consisted of 70 units from beginning Inventory and 355 units from the March 5 purchase; the March 29 sale consisted of 45 units from the March 18 purchase and 125 units from the March 25 purchase. Problem 5-1AA Part 3 3. Compute the cost assigned to ending Inventory using (a) FIFO. (b) LIFO, (c) weighted average, and (d) specific Identification. Complete this question by entering your answers in the tabs below. waighted Specific Id Periodic LIFO Periodic FIFO Average Compute the cost assigned to ending inventory using weighted average. (Round your average cost per unit to 2 decimal places. Ending Inventory Cost of Goods Sold Cost of Goods Available for Sale c) Average Cost Cost of Goods Available Average Average Cost per Unit Cost of G Sold # of units Average Cost per unit Ending Inventory of units C e of units sold unit for Sale Beginning inventory Purchases: March 5 March 18 March 25 Total Specific Id
