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O Required information [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 Acquired at Cost 250 units e $54.00 per unit 300 units @ $59.00 per unit 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 410 units @ $89.00 per unit 160 units @ $64.00 per unit 300 units @ $66.00 per unit 1,010 units 280 units @ $99.00 per unit 690 units 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 140 units from beginning inventory and 270 units from the March 5 purchase; the March 29 sale consisted of 120 units from the March 18 purchase and 160 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: Cost of Goods Sold Goods Purchased # of units unit Date Cost per # of units sold Cost per unit Cost of Goods Sold March 1 Inventory Balance # of units Cost per Inventory unit Balance 250 @ $ 54.00 = $ 13,500.00 250 $ 54.00 = $ 13,500.00 300 @ $59.00 - 17,700.00 $ 31,200.00 March 5 300 @ $ 59.00 March 9 110 @ $ 54.00 $ 5,940,00 $ 54.00 Required information Perpetual FIFO Perpetual LIFO Weighted Average Specific Id Compute the cost assigned to ending inventory using FIFO. Perpetual FIFO: Cost of Goods Sold Goods Purchased # of units unit Date Cost per # of units sold Cost per Cost of Goods Sold unit Inventory Balance Cost per Inventory # of units unit Balance 250 @ $ 54.00 = $ 13,500.00 March 1 March 5 300 @ $ 59.00 250 @ 300 @ $ 54.00 = $ 59.00 - $ 13,500.00 17,700.00 $ 31,200.00 March 9 110 @ $ $ 54.00 $ 59.00 @ 300 @ 5,940.00 17,700.00 23,640.00 $ 54.00 $ 59.00 $ March 18 March 25 March 29 Totals $ 23,640.00 Prey Next Required information Perpetual FIFO Perpetual LIFO Weighted Average Specific Id Compute the cost assigned to ending inventory using LIFO. Perpetual LIFO: Date Goods Purchased # of units unit Cost per # of units sold Cost of Goods Sold Cost per cost of Goods Sold unit Cost per Inventory Balance # of units Inventory unit Balance 250 @ $ 54.00 - $ 13,500.00 March 1 March 5 March 9 March 18 March 25 March 20 Totals $ 0.00 Weighted Perpetual FIFO Perpetual LIFO 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 Cost per Inventory Balance units unit sold unit unit March 1 250 @ $ 54.00 - $ 13,500.00 March 5 # of units Average March 9 March 18 Average March 25 March 29 Totals $ 0.00 Whick my work Required information Perpetual FIFO Perpetual LIFO Average Specific Id Compute the cost assigned to ending inventory using specific identification. For specific identification, the March 9 sale consisted of 140 units from beginning inventory and 270 units from the March 5 purchase; the March 29 sale consisted of 120 units from the March 18 purchase and 160 units from the March 25 purchase. Specific Identification: Goods Purchased Cost of Goods Sold Inventory Balance Date # of Cost per # of units Cost per Cost of Goods # of units Cost per Inventory Balance units unit sold unit Sold unit March 1 250 $ 54.00 = $ 13,500.00 March 5 300 @ $59.00 250 $54.00 $ 13,500.00 300 @ $ 59,00 17,700.00 $ 31,200.00 March 410 $ 54.00 - $59.00 $ 22,140.00 0.00 $ 22,140.00 $ 54.00 - $ 59.00 - March 18 March 25 March 29 $ 22,140.00 Totals Weighted Average Specific
