Answered step by step
Verified Expert Solution
Link Copied!
Question
1 Approved Answer

i need helping in finding the Periodic FIFO, LIFO, weight average and specific ID Chapter O5-Problem I(PS-1A) Saved 3 Required information The following information applies

i need helping in finding the Periodic FIFO, LIFO, weight average and specific ID image text in transcribed
image text in transcribed
image text in transcribed
image text in transcribed
image text in transcribed
Chapter O5-Problem I(PS-1A) Saved 3 Required information The following information applies to the questions dispiayed below) Warnerwoods Company uses a periodic inventory system, It entered into the following purchases and sales transactions for March Part 3 of 4 vicles Acquired at coat 170 unito $60 per unlt 470 nita $65 per anit oaits Sold at 8etail Mar. 1 Begianing inventory Mar 5 Purehase Mar. 9 sales Mar. 18 Purebase Mar. 25 Purehase Har. 29 Sales 25 points 490 anits $95 per unit 260 unit $70 per alt 340 unite $72 per anlt Skipped 300 unite E$105 por anle Totals 1,240 unita 790 unite For specific idensication, the March 9 sale consisted of 90 units from beginning inventory and 400 units from the March 5 purchase; the March 29 sale consisted of 110 units from the March 18 purchase and 190 units from the March 25 purchase. eBook Print 3. Compute the cost assigned to ending inventory using (a) FIFO. bLIFO. weighted average, and (d specific identisication Reterences Complete this question by entering your answers in the tabs below. Weighted Average Periodic FIFO Periodic LIFO Specific Ie Compute the cost assigned to ending inventory using FIFO. a) Periodic FIFO Cost of Goods Available for Sale Cost of Goods Sold Ending iaventory Cost of Goods Available for Sale Cost of Goods Sold P of units in ending inventory Ending Inventory Cost per unit of units Cost per unit Cost per unit #of unias soid Beginning inventory DIo 0.cc S Purchases March 5 000 March 18 000 March 25 0.cc Tetal Graw For specific Identification, the March 9 sale consisted of 90 units from beginning inventory and 400 units from the March 5 purchase; the March 29 sale consisted of 110 units from the March 18 purchase and 190 units from the March 25 purchase. 3. Compute the cost assigned to ending inventory using (a) FIFO, (b) LIFO. (weighted average, and (d) specific identification. Complete this question by entering your answers in the tabs below. Weighted Average Perlodic FIFO Perlodic LIFO Specific Id Compute the cost assigned to ending inventory using FIFO. a) Periodic FIFO Cost of Goods Available for Sale Cost of Goods Sold Ending inventory Cost of Goods Available for Sale Cost per unit Cost of Goods Sold # of units in ending Inventory Ending Inventory Cost per unit #of units sold Cost per unit # of units Beginning inventory 0.00 0 S 000 $ Purchases March 5 S 0.00 0 0.00 $ 0.00 0 0.00 March 18 March 25 0 0 S 0.00 Total 0 10 Periodic LIFO KPrev Next> O ule MalC 25 purehas 3. Compute the cost assigned to ending inventory using (a) FIFO, ()LIFO, (c) weighted average, and (d) specific identification. Complete this question by entering your answers in the tabs below. Weighted Average Periodic FIFO Periodic LIFO Specific Id Compute the cost assigned to ending inventory using LIFO. b) Periodic LIFO Cost of Goods Available for Sale Cost of Goods Sold Ending Inventory Cost per unit Cost of Goods Available for Sale Cost of Goods Sold f of units in ending inventory # of units sold Cost per unit Cost per unit Ending Inventory # of units Beginning inventory Purchases 0 March 5 March 18 0 March 25 0 Total KPeriodic FIFO Weighted Average 3. Compute the cost assigned to ending inventory using (a) FIFO, (b)LIFO, (C) weighted average, and (d) specific identificatior Complete this question by entering your answers in the tabs below. Weighted Average Periodic FIFO Periodic LIFO Specific Id Compute the cost assigned to ending inventory using specific identification. d Specific dentification Ending Inventory Cost of Goods Available for Sale Cost of Goods Sold Cost of Goods Available for Sale Cost of Goods Sold # of units in ending Inventory Ending Inventory Cost per unit #of units sold Cost per unit Cost per unit # of units Beginning inventory 0 Purchases: March 5 March 18 0 March 25 Total KWelghted Average KPrev of 4 Next>

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image
Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image_2

Step: 3

blur-text-image_3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Government Auditing Standards

Authors: U.S. Government Accountability Office

1st Edition

B0C9S8NVST, 979-8851147746

More Books

Students explore these related Accounting questions

Question

Describe techniques for resolving conflicts.

Answered: 3 weeks ago