Homework - Chapter 5 0 Help Seve 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 Required at Coat 150 units $52.00 per unit 250 units $57.00 per unit Units sold at Retail Date Activities Mar. 1 Beginning inventory Har 5 Purchase Mar. 9 Sales Mar. 18 Purchase Mar. 25 Purchase Mar. 29 Sales Totals 310 unitse $87.00 per unit 110 units 200 units $62.00 per unit $64.00 per unit 180 unitse $97.00 per unit 490 units 710 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 90 units from beginning Inventory and 220 units from the March 5 purchase; the March 29 sale consisted of 70 units from the March 18 purchase and 110 units from the March 25 purchase. ch 18 purchase a beginning invested average Perpetual FIFO: Goods Purchased # of Cost per units unit # of units sold Cost of Goods Sold Cost per cost of Goods Sold units Date Inventory Balance # of units funt Cost per Inventory unit Balance 150 @ $52.00 = $ 7,800.00 March 1 March 5 March 9 March 18 March 25 March 29 Totals Perpetual LIFO: Goods Purchased # of Cost per units unit of units sold Cost of Goods Sold Cost per cast of Goods Sold unit Date Inventory Balance Cost per Inventory of units Balance 150 @ $ 52.00 - $ 7,800.00 March 1 March 5 March 18 March 25 March 29 Total Welghted Average Perpetual: Goods Purchared # of Cost per Date units unit March 1 Cost of Goods Sold #of units Cost per cost of Goods Sold sold unit Inventory Balance of units Cost per inventory Balance 150 $ 52.00 = $ 7,800.00 March 5 Average March 9 March 18 Average March 25 ces March 29 Totals $ 0.00 Required information Compute the con assigned to ending inventory using spedincidentification for specific identification, the March 9 sale consisted of 90 units from beginning inventory and 220 units from the March purchase, the March 29 sale consisted of 70 units from the March 16 purchase and 110 units from the March 25 purchase. Specific Identification: Cost of Goods Sold of units cost per cost of Goods Cost per Inventory Balance Inventory Balance 2 .00 7.800.00 160 March 5