: Homework i Saved 21 of 4 1 Required information Problem 5-2AA (Algo) Periodic: Alternative cost flows LO P3 [The following information applies to the questions displayed below.] Warnerwoods Company uses a periodic inventory system. It entered into the following purchases and sales transactions for March. Date March 1 Activities March 5 Beginning inventory Purchase ook March 9 Sales March 18 Purchase March 25 Purchase Units Acquired at Cost 115 units @ $50 per unit 415 units @ $55 per unit 150 units $60 per unit 230 units @ $62 per unit Units Sold at Retail 435 units @ $85 per unit March 29 Sales 190 units $95 per unit rint Totals 910 units 625 units rences For specific identification, units sold include 50 units from beginning inventory, 385 units from the March 5 purchase, 55 units from the March 18 purchase, and 135 units from the March 25 purchase. Problem 5-2AA (Algo) Part 3 3. Compute the cost assigned to ending inventory using (a) FIFO, (b) LIFO, (c) weighted average, and (d) specific identification. (Round your "average cost per unit" to 2 decimal places.) a) Periodic FIFO Beginning inventory Purchases: Cost of Goods Available for Sale Cost of Goods Sold Ending Inventory # of units Cost per unit Cost of Goods Available for Sale # of units Cost per sold unit Cost of Goods Sold # of units in ending inventory Cost per unit Ending Inventory 115 $ 50.00 $5,750 115 $50.00 $ 5,750 0 $0.00 $ 0 March 5 March 18 415 150 $ 55.00 60.00 March 25 Total 230 $ 62.00 910 22,825 9,000 14,260 $ 51,835 415 $ 55.00 95 $ 60.00 0 625 22,825 5,700 0 $ 0.00 0 95 $ 60.00 230 $ 62.00 5,700 14,260 $ 34,275 325 $ 19,960 b) Periodic LIFO Beginning inventory Purchases: Cost of Goods Available for Sale # of units Cost per unit Cost of Goods Available for Sale Cost of Goods Sold Ending Inventory # of units sold Cost per unit Cost of Goods Sold # of units in ending inventory Cost per unit 115 $ 50.00 $ 5,750 20 $ 50.00 $ 1,000 Ending Inventory 95 $ 50.00 $ 4,750 A 1753 J 333 33