for each section, Fifo, Lifo, weighted average, and specidic ID
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. Units Sold at Retail Date March 1 Activities Beginning inventory Purchase Sales Units Acquired at Cost 220 units @ $53.40 per unit 285 units @ $58.40 per unit March 5 March 9 380 units @ $88.40 per unit March 18: Purchase 145 units @ $63.40 per unit 270 units @ $65.48 per unit March 25: Purchase March 29 Sales 250 units@ $98.40 per unit 630 units Totals 920 units 3. Compute the cost assigned to ending inventory using (a) FIFO, (b) LIFO, (c) weighted average, and (d) specific identification. For specific identification, units sold include 125 units from beginning inventory, 255 units from the March 5 purchase, 105 units from the March 18 purchase, and 145 units from the March 25 purchase. Complete this question by entering your answers in the tabs below. Weighted Perpetual FIFO Perpetual LIFO Specific Id Average oeding inventory using FIFO. www.gm Perpetual FIFO Perpetual LIFO Specific Id Average Compute the cost assigned to ending inventory using FIFO. Goods Purchased Date # of units # of units sold: March 1 March 5 Total March 5 March 9 Total March 9 March 18 Total March 18 March 25 Total March 25 March 29 Total March 29 Totals Cost per unit Perpetual FIFO: Cost of Goods Sold Cost per unit Cost of Goods Sold - 0.00 # of units Inventory Balance Cost per unit 220 at $53.40 = Inventory Balance: $ 11,748.00 www.gw Perpetual FIFO Perpetual LIFO Specific Id Average Compute the cost assigned to ending inventory using LIFO. Goods Purchased i Date # of units # of units sold March 1 March 5 Total March 5 March 9 Total March 9 March 18 Total March 18 March 25 Total March 25 March 29 Total March 29 Totals Cost per unit Perpetual LIFO: Cost of Goods Sold Cost per unit Cost of Goods Sold $ # of units 0.00 Inventory Balance Cost per unit $53.40- 220 at Inventory Balance $ 11,748.00 points eBook Complete this question by entering your answers in the tabs below. Perpetual FIFO Perpetual LIFO Weighted Average Specific lo Compute the cost assigned to ending Inventory using specific identification. For specific identification, units sold include 125 units from beginning inventory, 25 units from the March 5 purchase, 105 units from the March 18 purchase, and 145 units from the March 25 purchase. Specific Identification Goods Available for Sale Cost of Goods Sold Ending Inventory Date Cost per # of units sold Cost per unit #of units in ending inventory Cost per unit Ending Inventory $ $ $ March 1 March 5 March 10 March 25 AND Total # of units 0 Cost of Goods Available for Sale $ 0 $ 0 0 0 0 Weighted Average Cost of Goods Sold 0 0 0 0 Sperlin > 0.00 $ 0.00 0.00 $ 0 0.00 0.00 0.00 0.00 $ 0 0 0 0 0
