Required information Problem 5-1A 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 Date Activities Mar. 1 Beginning inventory Mar. 5 Purchase Mar. 9 Sales Mar. 18 Purchase Mar. 25 Purchase Mar. 29 Sales Totals Units Acquired at Cost 120 units@ $51.4e per unit 235 units@ $56.40 per unit 95 units@ $61.40 per unit 170 units @ $63.4e per unit 280 units @ $86.40 per unit 150 units @ $96.40 per unit 430 units 620 units Problem 5-1A Part 3 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 75 units from beginning inventory and 205 units from the March 5 purchase; the March 29 sale consisted of 55 units from the March 18 purchase and 95 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 8 of Cost per of units Cost per Cost of Goods Sold Date units unit sold unit March 1 Cost per Inventory Balance # of units Inventory unit Balance 1201 $ 51.40$ 6,168.00 March 5 March 9 March 18 March 25 March 29 Totals S 0.00 Perpetual LIFO > ! Required information Perpeludi Fru Perpetual uro Average Compute the cost assigned to ending inventory using LIFO. Perpetual LIFO: Goods Purchased # of units unit Cost per Cost of Goods Sold Cost per Cost of Goods Sold unit Cost per Date # of units sold Inventory Balance # of units Inventory unit Balance 120 @ $51.40 = $ 6.168.00 March 1 March 5 March 9 March 18 March 25 March 29 Totals $ 0.00 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 Cost of Goods Sold Inventory Balance # of Cost per # of units Date Cost per Cost of Goods Sold # of units Cost per Inventory Balance units sold unit March 1 120 @ S 51.40 = S 6,168,00 unit unit March 5 Average March 9 March 18 Average March 25 March 29 Totals $ 0.00 Perpetual LIFO Specific Id> Perpetual FIFO Perpetual LIFO were Average Specific Id Compute the cost assigned to ending inventory using specific identification. For specific identification, the March 9 sale consisted of and 205 units from the March 5 purchase; the March 29 sale consisted of 55 units from the March 18 purchase and 95 units from th Specific Identification: Goods Purchased Cost of Goods Sold Inventory Balance #of Date # of units Cost per Cost of Goods units # of units Inventory Balance unit sold unit Sold unit March 1 120 @ $51.40 $ 6.16800 Cost per Cost per March 5 March 9 March 18 March 25 March 29 Totals $ 0.00
