If possible, please explain where you get the numbers from. :) Thank you!
Required information Problem 6-1A 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. Units Sold at Retail Units Acquired at Cost 180 units @ $52.60 per unit 265 units @ $57.60 per unit 340 units @ $87.60 per unit Date Activities Mar. 1 Beginning inventory Mar. 5 Purchase Mar. 9 Sales Mar. 18 Purchase Mar. 25 Purchase Mar. 29 Sales Totals 125 units @ $62.60 per unit 230 units @ $64.60 per unit 210 units @ $97.60 per unit 550 units 800 units Problem 6-1A Part 3 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 105 units from beginning inventory and 235 units from the March 5 purchase, the March 29 sale consisted of 85 units from the March 18 purchase and 125 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: Goods Purchased # of Cost per unit Cost of Goods Sold Cost per unit Cost of Goods Sold Date of units sold units March 1 Inventory Balance # of units Cost Cost Inventory Inventory per unit Balance 180 @ $52.60 = $ 9.468.00 180 @ $52.60 = $ 9,468.00 265 @ $57.60 = 15,264.00 $24.732.00 March 5 265 @ $57.60 March 9 $ 0.00 @ @ $52.60 $57.60 = = @ @ $52.60 $57.60 0.001 March 18 125 @ $62.60 @ @ @ $52.60 $57.60 $62.60 = 125 7,825.00 $ 7.825.00 March 25 230 @ $64.60 @ @ 125 @ 230 @ $52.60 $57.60 57 el $62.60 = $64.60 = I 7,825.00 14,858.00 $ 22,683.00 March 29 $ @ @ @ @ @ $52.60 $57.60 $62.60 $64.60 = = | = = 0.00 0.00 0.00 0.00 $ 52.60 $57.60 $62.60 $64.60 = @ @ 230 14,858.00 $14,858.00 $14,858.00 Totals $ 0.00 Perpetual FIFO Perpetual LIFO > 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 105 units from beginning inventory and 235 units from the March 5 purchase; the March 29 sale consisted of 85 units from the March 18 purchase and 125 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 LIFO. Perpetual LIFO: Goods Purchased # of Cost units per unit Cost of Goods Sold #of units Cost Cost of Goods sold per unit Sold Date Inventory Balance of units Cost Inventory per unit Balance 180 @ $52.60 = $ 9.468.00 March 1 March 5 March 9 March 18 March 25 March 29 Totals $ 0.00 3. Compute the cost assigned to ending inventory using (a) FIFO, (6) LIFO, (c) weighted average, and (d) specific identification. For specific identification, the March 9 sale consisted of 105 units from beginning inventory and 235 units from the March 5 purchase; the March 29 sale consisted of 85 units from the March 18 purchase and 125 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 weighted average. (Round your average cost per unit to 2 decimal places.) Weighted Average Perpetual: Goods Purchased # of Cost per unit March 1 Cost of Goods Sold of units Cost Cost of Goods sold per unit Sold Date units Inventory Balance a lt Cost Inventory of mis per unit Balance 180 @ $52.60 = $ 9.468.00 March 5 Average March 9 March 18 Average March 25 TUL March 29 Totals 0.00 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 105 units from beginning inventory and 235 units from the March 5 purchase; the March 29 sale consisted of 85 units from the March 18 purchase and 125 units from the March 25 purchase. Complete this question by entering your answers in the tabs below. Perpetual Perpetual Weighted FIFO LIFO Average Specific Id Compute the cost assigned to ending inventory using specific identification. For specific identification, the March 9 sale consisted of 105 units from beginning inventory and 235 units from the March 5 purchase; the March 29 sale consisted of 85 units from the March 18 purchase and 125 units from the March 25 purchase. Specific Identification: Goods Purchased Cost units per unit March 1 # of Cost of Goods Sold # of units Cost Cost of Goods sold per unit Sold Date Inventory Balance # of units Cost Inventory of units per unit Balance 180 @ $52.60 = $ 9.468.00 March 5 March 9 March 18 March 25 March 29 $ 0.00
