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accounting problems 3 please complete full chart 3 Required information [The following information applies to the questions displayed below.] Part 3 of 4 Warnerwoods Company
accounting problems 3 please complete full chart
3 Required information [The following information applies to the questions displayed below.] Part 3 of 4 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 3.57 1 Beginning inventory 110 units @ $51.20 per unit points Mar. 5 Purchase Mar. 230 units e $56.20 per unit 9 Sales 270 units e $86.20 per unit Mar. 18 Purchase 90 units @ $61. 20 per unit Mar. 25 Purchase 160 units e $63.20 per unit Mar. 29 140 units @ $96.20 per unit eBook Totals 590 units 410 units References 3. Compute the cost assigned to ending inventory using (a) FIFO, (b) LIFO, (c) weighted average, and (d) specific identification. For specific identification, the March 9 sale consisted of 70 units from beginning inventory and 200 units from the March 5 purchase; the March 29 sale consisted of 50 units from the March 18 purchase and 90 units from the March 25 purchase. 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 FIFO. Perpetual FIFO: Goods Purchased Cost of Goods Sold Inventory Balance Date # of Cost per units unit # of units sold Cost per Cost of Goods Sold unit # of units Cost per unit Inventory March 1 Balance 110 @ $ 51.20 - $ 5,632.00 March 5 230 @ $ 56.00 110 @ $51.20 - $ 5,632.00 230 @ $ 56.00 - 12,880.00 5 18.512,00 March 9 70 @ $51.20 = $ 3,584.00 200 @ $ 56.00 @ $ 51.20 11,200.00 @ $56.00 $ 14,784.00 March 18 90 @ $61.00 @ $ 51.20 @ $ 56.00 1 @ $61.00 March 25 160 @ $ 63.20 @$ 51.20 @ $ 56.00 @ $ 61.00 @ $ 63.20 March 29 Totals $ 14,784.00 Perpetual LIFO >Step by Step Solution
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