9 Part 3 of 4 20 soints Required Information Problem 6-1A (Static) 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 Date Activities Units Acquired at Cost Units Sold at Retail March 1 Beginning inventory 100 units @ $50 per unit March 5 Purchase 400 units @ $55 per unit March 9 Sales 420 units $85 per unit March 18 Purchase 120 units @ $68 per unit March 25 Purchase 200 units @ $62 per unit March 29 Sales 160 units @ $95 per unit Totals 828 units 580 units eBook Print Problem 6-1A (Static) Part 3 3. Compute the cost assigned to ending inventory using (a) FIFO. (6) LIFO. (C) weighted average, and (c) specific identification. For specific identification, units sold include 80 units from beginning inventory. 340 units from the March 5 purchase. 40 units from the March 18 purchase, and 120 units from the March 25 purchase. Perpetual FIFO Perpetual LIFO Weighted Average Specific Id Compute the cost assigned to ending inventory using FIFO. Goods Purchased Perpetual FIFO: Cost of Goods Sold Cost Cost of Goods Sold per unit Date Cost # of units # of units sold Inventory Balance # of units Cost per Inventory unit Balance 100 at $ 50.00 $ 5.000.00 per unit March 1 = 400 at $ 55.00 100 at March 5 S 50.00 S 55.00 400 at = S 5.000.00 22.000.00 $ 27,000.00 Total March 5 at !! = 6 0.00 at March 9 S 50.00 S 55.00 1111 S 50.00 $ 55.00 0.00 Total March 9 March 18 Total March 18 March 25 Total March 25 March 29 Total March 29 Totals S 0.00 $ 0.00 Perpetual FIFO Perpetual LIFO > points Perpetual FIFO Perpetual LIFO Weighted Average Specific Id Compute the cost assigned to ending inventory using LIFO. eBook Print Perpetual LIFO: Cost of Goods Sold Cost per unit Cost of Goods Sold Goods Purchased Cost # of units per unit Date Set # of units sold Inventory Balance Cost # of units per unit Inventory Balance 100 at $50.00 = $ 5.000.00 March 1 March 5 Total March 5 March Total March March 18 Total March 18 March 25 Total March 25 March 20 Total March 20 Totals S S 0.00 eBook 3. Compute the cost assigned to ending inventory using (a) FIFO. (6) LIFO. (C) weighted average, and (c) specific identification. For specific identification, units sold include 80 units from beginning inventory. 340 units from the March 5 purchase. 40 units from the March 18 purchase, and 120 units from the March 25 purchase. Print Complete this question by entering your answers in the tabs below. Perpetual FIFO Perpetual LIFO Weighted Average Specific Id Compute the cost assigned to ending inventory using weighted average. (Round your average cost per unit to 2 decimal places.) Weighted Average Perpetual: Cost of Goods Sold # of units Cost Cost of Goods Sold sold Goods Purchased Cost # of units Date Inventory Balance # of units Cost per unit Inventory Balance 100 at $ 50.00 = $ S 5,000.00 per unit per unit March 1 March 5 Average March 5 March March 18 Average March 18 March 25 Average March 25 March 29 Totals S 0.00 Perpetual FIFO Perpetual LIFO Weighted Average Specific Id Date Compute the cost assigned to ending inventory using specific identification. For specific identification, units sold include 80 units from beginning inventory, 340 units from the March 5 purchase, 40 units from the March 18 purchase, and 120 units from the March 25 purchase. Specific Identification Goods Available for Sale Cost of Goods Sold Ending Inventory Cost of Goods # of units Cost per # of units Cost per Cost of Cost per Ending # of units Available for sold unit Goods Sold in ending Inventory inventory March 1 s 0.00 s 0.00 March 5 0 0 0.00 0 March 18 0.00 March 25 0.00 Total unit unit Sale 0 $ S 0 S 0 0.00 0 0 0.00 Oolo 0 0 0 0 S 0 0 S 0 0 S 0 Weighted Average Speciald