36 0 Saved Required information (The following information applies to the questions displayed below. Warnerwoods Company uses a periodic inventory system. It entered into the following purchases and sales transactions for March Unita Sola at Retail 4 Date Activities Mar. 1 Beginning Inventory KAT, 5 Purchase 2 Mar. 9 sales Mar. 18 Purchase Mar. 25 Purchase Mar 29 Sales Totals Totals Units Acquired at conta 140 units $75 per unit 40 unita $80 per unit 4 200 units ses per unit 280 units @ $87 per unit 60 units $110 per unit 240 units 700 units $120 per unit 1,060 units - For specific identification, the March 9 sale consisted of 90 units from beginning inventory and 370 units from the March 5 purchase; the March 29 sale consisted of 80 units from the March 18 purchase and 160 units from the March 25 purchase. 3. Compute the cost assigned to ending inventory using (a) FIFO, (b) LIFO, (c) weighted average, and (d) specific identification. (Round your average cost per unit to 2 decimal places.) a) Periodic FIFO Cost of Goods Sold E nding Inventory Cost of #of units Cost of Goods Available for Sale Cost of Cost per Goods of units unit Available for Sale $ Ending of units sold Cost per unit Cost per in ending unit Goods sold unit Inventory Sold inventory $ 0.00 $ of $ 0.00 $ 0 Beginning inventory Purchases: March 5 March 18 0 0 0 of $ $ 0. 00 0.00 $ $ 0.00 0. 00 0f 0 Ulule WILI 16 purchase and 160 units from the March 25 purchase. 3. Compute the cost assigned to ending inventory using (a) FIFO, (b) LIFO. (c) weighted average, and (d) specific Identification. (Round your average cost per unit to 2 decimal places.) a) Periodic FIFO Ending Inventory Cost of Goods Available for Sale Cost of Goods Sold Cost of #of unit Cost per Goods # of units Cost Cost of unit Available sold unit Goods for Sale Sold S o f $ 0.00 $ 0 of units in ending Inventory Cost per unit Ending Inventory $ 0.00 $ 5 Beginning inventory Purchases: March March 18 March 25 Total 0 $ $ 0.00 0.00 of o 0 $ $ 2 op 0.00 0.00 0.00 $ b) Periodic LIFO Cost of Goods Sold Ending Inventory Cost of Goods Available for Sale Cost of Cost per Goods # of units unit Available for Sale Cost per of units sold cost per unit Cost of #of units Goodsin ending Sold Inventory Ending Inventory $ 0 Beginning inventory Purchases: March 5 March 18 March 25 Total 0 Ending Inventory c) Average Cost Cost of Goods Sold Cost of Goods Available for Sale Cost of Average Goods # of units Cost per Availahla # of units n d Average Cost per Cost of Goods w of units in ending Average Cost per Invante d) Specific Identification Cost of Goods Available for Sale Cost of Goods Sold Ending Inventory Cost per unit Cost of Goods Available for Sale Cost per of units sold Cost per unit Cost of #of units Goodsin ending Sold inventory Ending Inventory $ 0 Beginning inventory Purchases: March 5 March 18 March 25 of of Total 0 Prev Next >