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of 4 Required information Problem 6-1A (Algo) 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 Date Activities Units Acquired at Cost Units sole at Retail March 1 Beginning inventory 120 units @ $51.40 per unit March 5 Purchase 235 units 556.48 per unit March 9 Sales 280 hits e $36.co per unit March 18 Purchase 95 units @ $61.40 per unit March 25 Purchase 178 units @ $63.40 per unit March 29 Sales 150 units $96.00 per unit Totals 620 units 438 units Problem 6-1A (Algo) Part 3 3. Compute the cost assigned to ending inventory using (@FIFO. (6) LIFO. (weighted average and specific identification. For specific identification, units sold include 75 units from beginning inventory, 205 units from the March 5 purchase. 55 units from the March 18 purchase, and 95 units from the March 25 purchase. Required information Perpetual FIFO Perpetual LIFO Weighted Specific Id Average Compute the cost assigned to ending Inventory using FIFO. Perpetual FIFO: Goods Purchased Cost of Goods Sold Date Cost Cost # of units # of units per Cost of Goods per unit unit Sold March 1 sold per Inventory Balance Cast of units Inventory unit Balance 120 of 51.40 $6.168.00 $ 235 $ 51.40 12,079.00 s 235 at 56.40 13.254.00 3 25,333.00 235 S 56.40 March 5 Total March 5 140 at 51.40 7,196.00 140 at March 9 $7.196.00 3 > 140 at 7,896.00 140 51.40 $ 56.40 56.40 at Total March 9 $ 15,092.00 7,896.00 $ 15.092.00 s 95 at $ 61.40 0 at 5.358.00 March 18 95 % at 51.40 $ 56.40 $ 61.40 1853 at 11,359,00 $ 16.717.00 Total March 18 170 at $ 63.40 o at 51.40 $ 56.40 X at 5,358,00 25 >> March 25 185 at 11,359.00 61.40 $ 63.40 280 at 17.752.00 $ 34.469.00 Total March 25 at $ 0.00 S oot 75 at - 4,230,00 ot 51.40 $ 56.40 $ 61.40 $ 63.40 51.40 $ 56.40 $ 61.40 March 29 4,605.00 60 at 75 at 3,684.00 13,048.00 0.00 220 oat at #1 63.40 Perpetual FIFO Perpetual LIFO Weighted Average Specific Id Compute the cost assigned to ending inventory using LIFO. Perpetual LIFO: Goods Purchased Cost of Goods Sold Date Cost per # of units Cost per # of units unit sold Cost of Goods Sold March 1 unit Inventory Balance Cost per Inventory # of units unit Balance 120 at $ 51.40 = $ 6,168.00 March 5 Total March 5 March 9 Total March 9 March 18 Total March 18 Perpetual FIFO Perpetual LIFO Weighted Average Specific Id Compute the cost assigned to ending inventory using weighted average. (Roind your average cost per unit to 2 decimal places.) Weighted Average Perpetual Goods Purchased Cost of Goods Sold Inventory Balance Date Cost par of units Cost per # of units sold Cost per unit Cost of Goods Sold # of units Inventory Balance unit March 1 120 at $ 51.40 = 6.168.00 unit S March 5 Average March 5 March March 18 Average March 18 March 25 Average March 25 March 29 $ 0.00 Perpetual FIFO Perpetual LIFO Welghted Average Specific Id Compute the cost assigned to ending Inventory using specific identification. For specific identification, units sold include 75 units from beginni units from the March 5 purchase, 55 units from the March 18 purchase, and 95 units from the March 25 purchase. Specific Identification Goods Available for Sale Cost of Goods Sold Ending Inventory Date Cost of Goods # of units Cost per #of units of units Cost of Cost per Available for unit Ending sold unit in ending Goods Sold unit Inventory Sale Inventory March 1 $ 0 $ 0.00 $ 0 $ $ March 5 0.00 0 0.00 March 18 0.00 0 0.00 0 March 25 0.00 0 Total 0 $ 0 $ $ Cost per 0.00 0 0 0 0 0 0 0 Weighted Average