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Part 3 of 4 Required Information [The following information applies to the questions displayed below.] Warnerwoods Company uses a periodic Inventory system. It entered into
Part 3 of 4 Required Information [The following information applies to the questions displayed below.] Warnerwoods Company uses a periodic Inventory system. It entered into the following purchases and sales transactions for March 0.9 points Units Sold at Retail Units Acquired at Cost 155 units @ $45 per unit 455 units @ $50 per unit Date Activities Mar. 1 Beginning inventory Mar. 5 Purchase Mar. 9 Sales Mar. 18 Purchase Mar. 25 Purchase Mar. 29 Sales Totals 475 units @ $80 per unit eBook 238 units @ $55 per unit 310 units @ $57 per unit 278 units @ $99 per unit 745 units 1,150 units Print 6 References For specific Identification, the March 9 sale consisted of 50 units from beginning Inventory and 425 units from the March 5 purchase, the March 29 sale consisted of 95 units from the March 18 purchase and 175 units from the March 25 purchase. 3. Compute the cost assigned to ending Inventory using (a) FIFO. (6) LIFO. (C) Welghted average, and (d) specific Identification. (Round your average cost per unit to 2 decimal places.) a) Periodic FIFO Cost of Goods Sold Ending Inventory Cost of # of units Cost per Cost of Goods Available for Sale Cost of Goods unit Available for Sale $ 0 #of units Cost per sold unit Goods # of units in ending inventory Cost per unit Ending Inventory Sold $ 0.00 $ 0 $ 0.00 $ 0 0 Beginning inventory Purchases: March 5 March 18 March 25 Total 0 0 0 $ 0.00 $ 0.00 0 0 ol $ 0.00 $ 0.00 $ 0.00 0 0 0 0 0 b) Periodic LIFO Cost of Goods Sold Ending Inventory Cost of Goods Available for Sale Cost of Goods # of units unit Available for Sale Cost per # of units Cost per sold unit Cost per Cost of Goods Sold # of units in ending inventory unit Ending Inventory 0 Beginning inventory Purchases: March 5 March 18 March 25 Total 0 0 0 0 c) Average Cost Cost of Goods Sold Cost of Goods Available for Sale Cost of Average Goods #of units Cost per unit Available for Sale # of units sold Average Cost per Unit Cost of Goods Sold Ending Inventory # of units Average Ending in ending Cost per Inventory unit inventory Beginning inventory Purchases: March 5 March 18 March 25 Total $ $ d) Specific Identification Cost of Goods Available for Sale Cost of Goods Sold Ending Inventory # of units Cost per Cost per unit Cost of Goods Available for Sale #of units Cost per sold unit unit Cost of # of units Goods in ending Sold inventory 0 Ending Inventory 0 Beginning inventory Purchases: March 5 March 18 March 25 Total 0 0 0 0 0 0 0 01
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