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Need help finding the rest of the perpetual FIFO on the chart. Compute the cost assigned to ending inventory using (a) FIFO, (b) LIFO, (c)
Need help finding the rest of the perpetual FIFO on the chart.
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 85 units from beginning inventory and 215 units from the March 5 purchase; the March 29 sale consisted of 65 units from the March 18 purchase and 105 units from the March 25 purchase.
Required information Problem 5-1A Perpetual: Alternative cost flows LO P1 [The following information applies to the questions displayed below. Warnerwoods Company uses a perpetual inventory system. entered into the following purchases and sales transactions for March. Date Activities Units Acquired at Cost 148 units $51.8 per unit 245 units $56.80 per unit Units Sold at Retail Mar. 1 Beginning inventory Mar. 5 Purchase Mar. 9 Sales Mar. 18 Purchase Mar. 25 Purchase Mar. 29 Sales 300 units $86.80 per unit 105 units $61.80 per unit 190 units $63.80 per unit 170 units$96.80 per unit Totals 688 units 478 units Problem 5-1A 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 85 units from beginning inventory and 215 units from the March 5 purchase; the March 29 sale consisted of 65 units from the March 18 purchase and 105 units from the March 25 purchase Complete this question by entering your answers in the tabs below Weighted Average Perpetual FIFO Perpetual LIFO Specific Id Required information Perpetual FIFO: #of units Cost per unit # of units sold | Cost per | Cost of Goods Sold Cost per Inventory Balance Date # of units unit March 1 140S51.80 7,252.00 14051.807,252.00 245S56.80 13,916.00 $ 21,168.00 March 5 245| @$56.80 0S51.80 65 @ | S 56.801 = March 9 $51.80 $56.80 0.00 0.00 4,828.00 $ 4,828.00 $51.80 $56.80 March 18 105| @$61 80 6,489.00 $ 6,489.00 105| @ | S 61.80 | = March 25 190 $63.80 $51.80 85| @|$ 5680|=| 4.828.00 105 61.806,489.00 190S 63.8012,122.00 5 23.439.00 0.00 4,828.00 5,253.00 S51.80 S56.80 S61.80 0.00 190S 638012,122.00 March 29 @| $51.80 | = | $ 85| @ | $56.80 85$ 61.80 $63.80 12.122.00 $ 12,122.00 5 10,081.00 Totals S 10,081.00 Perpetual FIFO Perpetual LIFO >Step by Step Solution
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