Part 3.
Part.4
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 Sold at Retail Units Acquired at Cost 170 units @ $52.40 per unit 260 units @ $57.40 per unit 330 units @ $87.40 per unit Date Activities Mar. 1 Beginning inventory Mar. 5 Purchase Mar 9 Sales 18 Purchase Mar. 25 Purchase Mar. 29 Sales Totals Mar. 120 units @ $62.40 per unit 220 units @ $64.40 per unit 200 units @ $97.40 per unit 530 units 770 units Required: 1. Compute cost of goods available for sale and the number of units available for sale. Cost of Goods Available for Sale Cost per Cost of Goods # of units Unit Available for Sale Beginning inventory Purchases: March 5 March 18 March 25 Total ! 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 Sold at Retail Units Acquired at Cost 170 units @ $52.40 per unit 260 units @ $57.40 per unit Date Activities Mar. 1 Beginning inventory Mar. 5 Purchase Mar. 9 Sales Mar. 18 Purchase Mar. 25 Purchase Mar. 29 Sales 330 units @ $87.40 per unit 120 units@ $62.40 per unit 220 units @ $64.40 per unit 200 units @ $97.40 per unit 530 units Totals 770 units 2. Compute the number of units in ending inventory. Ending inventory units Perpetual FIFO: Cost of Goods Sold Goods Purchased # of Cost per # of units units sold Date Cost per Cost of Goods Sold Inventory Balance Cost per Inventory # of units unit Balance 170 @ $ 52.40 = $ 8,908.00 unit unit March 1 March 5 March 9 March 18 March 25 March 29 Totals Perpetual LIFO: Cost of Goods Sold Goods Purchased # of Cost per units unit Cost per # of units sold Date March 1 Cost of Goods Sold unit Inventory Balance Cost per Inventory # of units unit Balance 170 @ $ 52.40 = $ 8,908.00 March 5 March 9 March 18 March 25 March 29 Totals 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 Date units unit March 1 # of units sold Cost of Goods Sold Cost per Cost of Goods Sold unit Inventory Balance Cost per # of units unit Inventory Balance 170 @ $ 52.40 = $ 8,908.00 March 5 Average March 9 March 18 Average March 25 March 29 Totals Specific Identification: Goods Purchased # of Cost per Date units March 1 Cost of Goods Sold # of units Cost per Cost of Goods sold unit Sold Inventory Balance Cost per # of units unit Inventory Balance 170 @ $ 52.40 = $ 8,908.00 unit March 5 March 9 March 18 March 25 March 29 Totals 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 Sold at Retail Units Acquired at Cost 170 units @ $52.40 per unit 260 units @ $57.40 per unit 330 units @ $87.40 per unit Date Activities Mar. 1 Beginning inventory Mar. 5 Purchase Mar. 9 Sales Mar. 18 Purchase Mar. 25 Purchase Mar. 29 Sales Totals 120 units @ $62.40 per unit 220 units @ $64.40 per unit 200 units @ $97.40 per unit 530 units 770 units 4. Compute gross profit earned by the company for each of the four costing methods. For specific identification, the March 9 sale consisted of 100 units from beginning inventory and 230 units from the March 5 purchase; the March 29 sale consisted of 80 units from the March 18 purchase and 120 units from the March 25 purchase. (Round weighted average cost per unit to two decimals and final answers to nearest whole dollar.) FIFO LIFO Avg. Cost Spec. ID Gross Margin Sales Less: Cost of goods sold Gross profit
