Ch 5: Homework Saved Help Save & Exit Check 11 ! Required information Part 3 of 4 Problem 5-2AA (Algo) Periodic: Alternative cost flows LO P3 The following information applies to the questions displayed below.) 0.83 points Warnerwoods Company uses a periodic inventory system. It entered into the following purchases and sales transactions for March. Units Sold at Retail eBook Units Acquired at Cost 160 units @ $50 per unit 460 units @ $55 per unit Print Date March 1 March 5 March 9 March 18 March 25 March 29 480 units @ $85 per unit Activities Beginning inventory Purchase Sales Purchase Purchase Sales Totals References 240 units 320 units @ $60 per unit @ $62 per unit 280 units @ $95 per unit 760 units 1,180 units For specific identification, units sold include 60 units from beginning inventory, 420 units from the March 5 purchase, 100 units from the March 18 purchase, and 180 units from the March 25 purchase. Problem 5-2AA (Algo) Part 3 3. Compute the cost assigneu to ending inventory using (a) FIFO, (b) LIFO, (c) weighted average, and (d) specific identification. (R your "average cost per unit" to 2 decimal places.) eBook a) Periodic FIFO Print Cost of Goods Available for Sale Cost of Goods Sold Ending Inventory References Cost per Cost of Cost per Goods # of units unit Available for Sale 160 $ 50.00 $ 8,000 # of units sold Cost per Cost of Goods Sold # of units in ending Inventory Ending Inventory unit unit 160 $ 50.00 $ 8,000 $ 0.00 $ 0 4260 $ 25,300 $ Beginning inventory Purchases: March 5 March 18 March 25 Total 55.00 0.00 $ 460 $ 55.00 240 $ 60.00 320 $ 62.00 1,180 0 $ 25,300 14,400 19,840 $ 67,540 0.00 0.00 0.00 0 0 0 0 $ 620 $ 33,300 0 points b) Periodic LIFO Cost of Goods Sold Ending Inventory eBook Cost per Print Cost per Cost of Goods Available for Sale Cost of Cost per Goods # # of units unit Available for Sale 160 $ 50.00 $ 8,000 Cost of Goods Sold # of units sold # of units in ending inventory Ending Inventory unit unit References $ 0 Beginning inventory Purchases: 0 March 5 0 March 18 March 25 460 S 55.00 240 $ 60.00 320 $ 62.00 1,180 25,300 14,400 19,840 $ 67,540 0 0 0 Total c) Average Cost 0.83 points Cost of Goods Sold Ending Inventory Cost of Goods Available for Sale Cost of Average Goods # of units Cost per Available unit for Sale # of units sold Average Cost per Cost of Goods Sold # of units in ending inventory Average Cost per unit Ending Inventory eBook Unit Print 160 $ 8,000 References Beginning inventory Purchases: March 5 March 18 460 240 25.300 14,400 19,840 $ 67,540 320 March 25 Total 1,180 $ 0 0 $ 0 d) Specific Identification eBook Cost of Goods Available for Sale Cost of Goods Sold Ending Inventory Print References # of units Cost per # of units sold Cost of Goods unit Available for Sale 160 $ 50.00 $ 8,000 Cost per unit Cost of Goods Sold # of units in ending inventory Cost per unit Ending Inventory $ 50,00 $ 0 $ 50,00 S 0 Beginning inventory Purchases: March 5 0 0 0 0 $ 55.00 $ 60.00 March 18 $ 55.00 $ 60.00 $ 62.00 0 460 $ 55.00 240 $ 60.00 320 $ 62.00 1,180 0 25,300 14,400 19,840 S 67,540 March 25 0 $ S 62.00 0 Total 0 0