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I need help on this assignment please, thank you :) This one ask different stuff to fill in. Warnerwoods Company uses a periodic inventory system.

I need help on this assignment please, thank you :) This one ask different stuff to fill in.

Warnerwoods Company uses a periodic inventory system. It entered into the following purchases and sales transactions for March.
Date Activities Units Acquired at Cost Units Sold at Retail
Mar. 1 Beginning inventory 100 units @ $50 per unit
Mar. 5 Purchase 400 units @ $55 per unit
Mar. 9 Sales 420 units @ $85 per unit
Mar. 18 Purchase 120 units @ $60 per unit
Mar. 25 Purchase 200 units @ $62 per unit
Mar. 29 Sales 160 units @ $95 per unit
Totals 820 units 580 units

For specific identification, the March 9 sale consisted of 80 units from beginning inventory and 340 units from the March 5 purchase; the March 29 sale consisted of 40 units from the March 18 purchase and 120 units from the March 25 purchase.

a) Periodic FIFO 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 sold Cost per unit Cost of Goods Sold # of units in ending inventory Cost per unit Ending Inventory
Beginning Inventory 100 $50.00 $5,000 0 $0 100 $50.00 $5,000
Purchases:
March 5 400 55.00 22,000 0 0 400 $55.00 22,000
March 18 120 60.00 7,200 0 0 120 60.00 7,200
March 25 200 62.00 12,400 0 0 200 62.00 12,400
Total 820 $46,600 0 820 $46,600
b) Periodic LIFO 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 sold Cost per unit Cost of Goods Sold # of units in ending inventory Cost per unit Ending Inventory
Beginning Inventory 100 $50.00 $5,000
Purchases:
March 5 400 55.00 22,000
March 18 120 60.00 7,200
March 25 200 62.00 12,400
Total 820 $46,600 0 0
c) Average Cost Cost of Goods Available for Sale Cost of Goods Sold Ending Inventory
# of units Average Cost per unit Cost of Goods Available for Sale # of units sold Average Cost per Unit Cost of Goods Sold # of units in ending inventory Average Cost per unit Ending Inventory
Beginning Inventory 100 $5,000
Purchases:
March 5 400 22,000
March 18 120 7,200
March 25 200 12,400
Total 820 $46,600 $0 $0
d) Specific Identification 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 sold Cost per unit Cost of Goods Sold # of units in ending inventory Cost per unit Ending Inventory
Beginning Inventory 100 $50.00 $5,000 0 $50.00 $0
Purchases:
March 5 400 55.00 22,000 0 55.00 0
March 18 120 60.00 7,200 0 60.00 0
March 25 200 62.00 12,400 0 62.00 0
Total 820 $46,600 0 0

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4. Compute gross profit earned by the company for each of the four costing methods. (Round your average cost per unit to 2 decimal places.) Weighted Average Specific Identification FIFO LIFO Sales Less: Cost of goods sold Gross profit O S o S o S 0

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