Chapter 5 HW A Seved Help Save & Exit Submit Check my work 3 Part 3 of 4 Required information 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 10 points Units Sold at Retail Units Acquired at Cost 160 units @ $52.20 per unit 255 unita @ $57.20 per unit eBook 320 units $97.20 per unit Date activities Mar. 1 Deginning inventory Mar. 5 Purchase Mar , 9 Sales Mar. 19 Purchase Mar. 25 Purchase Mar. 29 Sales Totals Print 115 units @ $62.20 per unit 210 unita @ $64.20 per unit References 190 units $97.20 per unit 510 units 740 unite 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 95 units from beginning inventory and 225 units from the March 5 purchase; the March 29 sale consisted of 75 units from the March 18 purchase and 115 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 specific identification. For specific identification, the March 9 sale consisted of 95 units from beginning inventory and 225 units from the March 5 purchase; the March 29 sale consisted of 75 units from the March 18 purchase and 115 units from the March 25 purchase. Required information Cost per Date # of units # of units sold Cost per cost of Goods Sold unit # of units unit Cost per unit $ 52.20 = Inventory Balance $ 8,352.00 March 1 160 @ March 5 255 @ $57.20 160 @ 255 @ $ 52.20 = $57.20 = $ 8,352.00 14,586.00 $ 22,938.00 March 9 160 @ = $ @ $ 52.20 $ 57.20 $ 52.20 $ 57.20 = 160 @ 8,352.00 9,152.00 17,504.00 = 95 @ 5,434.00 $ 5,434.00 $ March 18 115 @ $ 62.20 @ $ 52.20 95@ 115 @ $ 57.20 = $ 62.20 = 5,434.00 7,153.00 $ 12,587.00 March 25 210 @ $ 64.20 @ 95 @ 5,434.00 $ 52.20 $ 57.20 = $ 62.20 = $ 64.20 = 115 @ 210 @ 7,153.00 13,482.00 $ 26,069.00 March 29 $ @ @ 95 @ @ 0.00 5,434.00 $ 52.20 $ 57.20 $ 62.20 $ 64.20 $ 52.20 $57.20 $ 62.20 $ 64.20 @ = 0.00 0.00 5,434.00 @ $ Date unit LOSI OT Goods Sola units # OT Units sold unit unit $ 52.20 = Balance $ 8,352.00 March 1 160 @ March 5 March 9 March 18 March 25 March 29 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: Goods Purchased # of Cost per Date units unit March 1 Cost of Goods Sold # of units Cost per cost of Goods Sold sold unit Inventory Balance Cost per # of units unit Inventory Balance 160 @ $ 52.20 = $ 8,352.00 March 5 Average March 9 March 18 Average March 25 March 29 Totals 0.00
