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Can someone help me with perpetual FIFO, specific identification, and weighted average? Required information Problem 6-1A Perpetual: Alternative cost flows LO P1 [The following information
Can someone help me with perpetual FIFO, specific identification, and weighted average?
Required information Problem 6-1A 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. Units Sold at Retail Units Acquired at Cost 190 units @ $52.80 per unit 270 units @ $57.80 per unit Date Activities Mar. 1 Beginning inventory Mar. 5 Purchase Mar. 9 Sales Mar. 18 Purchase Mar. 25 Purchase Mar. 29 Sales 350 units @ $87.80 per unit 130 units @ $62.80 per unit 240 units @ $64.80 per unit 220 units @ $97.80 per unit 570 units Totals 830 units Weighted Average Perpetual: Cost of Goods Sold Goods Purchased # of Cost per units unit Date # of units sold Cost per cost of Goods Sold unit unit March 1 Inventory Balance # of units Cost per Inventory Balance 190 @ $ 52.80| = | $ 10,032.00 190) @ $ 52.80 = | $ 10,032.00 270) @ $ 57.80 = | 15,606.00 460 @ $ 25,638.00 March 5 270 @ $ 57.80 Average March 9 350 @ $ 87.80 = $ 30,730.00 March 18 Average March 25 2401 @ $64.80 @ $64.80 220 March 29 Totals H 5 2201 A $ $ 30,730.00 30,730.00 Specific Identification: Goods Purchased # of Date Cost per units unit Cost of Goods Sold # of units Cost per Cost of Goods sold Sold unit March 1 March 5 270 @ $ 57.80 Inventory Balance # of units Cost per Inventory Balance unit 190 @ $ 52.80| = | $ 10,032.00 1901 @ $ 52.80| = $ 10,032.00 270 @ $ 57.80 = 15,606.00 | $ 25,638.00 @ $ 52.80 = @ $ 57.80 = March 9 $ @ @ $ 52.80 $ 57.80 = = 0.00 0.00 March 18 130 @ $62.80 $ 52.80 $ 57.80 130 @ $ 62.80 = 8,164.00 8,164.00 $ March 25 240 @ $64.80 @ @ 130 @ 2401 @ $ 52.80 $57.80 $ 62.80 | = $64.80 = 8,164.00 15,552.00 23,716.00 | $ March 29 @ $ 52.80| = | $ 0.00 @ $ 52.80| Perpetual FIFO: Goods Purchased # of Cost per units unit Cost of Goods Sold Cost per Cost of Goods Sold unit # of units sold Date March 1 March 5 2701 @ $ 57.80 Inventory Balance # of units Cost per Inventory unit Balance 190 @ $ 52.80| = $ 10,032.00 190) @ $52.80 = | $ 10,032.00 2701 @ $ 57.80= 15,606.00| $ 25,638.00 @ $ 52.80 | @ $ 57.80 | March 9 $ 1901 @ 160 @ $ 52.80 $ 57.80 = = 10,032.00 9,248.00 19,280.00 $ March 18 130 @ $ 62.80 @ $ 52.80 $ 57.80 130 @ $ 62.80 = | 8,164.00 | $ 8,164.00 March 25 240 @ $64.80 @ @ @ 2401 @ $ 52.80 $ 57.80 $ 62.80 $64.80 = 15,552.00| $ 15,552.00 March 29 @ $ 52.80| = $ 0.00 @ $ 52.80 |Step by Step Solution
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