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Please fill out the 4 charts. Required information [The following information applies to the questions displayed below.) Warnerwoods Company uses a perpetual inventory system. It
Please fill out the 4 charts.
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 Date Activities Units Acquired at Cost Units sold at Retail March 1 Beginning inventory 160 units @ $52.20 per unit March 5 Purchase 255 units @ $57.20 per unit March 9 Sales 320 units @ $87.20 per unit March 18 Purchase 115 units @ $62.20 per unit March 25 Purchase 210 units @ $64.20 per unit March 29 Sales 190 units 597.20 per unit Totals 740 units 510 units 3. Compute the cost assigned to ending Inventory using (a) FIFO, (0) LIFO, (a weighted average, and specific identification. For specific identification, units sold include 95 units from beginning inventory, 225 units from the March 5 purchase, 75 units from the March 18 purchase, and 115 units from the March 25 purchase. Complete this question by entering your answers in the tabs below. RVEIO Required information Perpetual FIFO Cost of Goods Sold Goods Purchased Date Cost per # of units sold #ol units Cost per unit Inventory Balance Cost per Inventory # of units unit Balance 160 at $ 52 20 = $ 8,352.00 Cost of Goods Sold unit March 1 March 5 Total March 5 March 9 Total March 9 March 18 Total March 18 March 25 Ta Mar 05 Required information Total March 9 March 18 Total March 18 March 25 Total March 25 March 29 Total March 29 Totals Perpetual LIFO > Perpetual LIFO: Cost of Goods Sold Goods Purchased Dato Cost per Cost per # of units sold # of units Inventory Balance Cost per #of units unit Inventory Balance 160 at $ 52.20 = $ 8,352.00 Cost of Goods Sold unit unit March 1 March 5 Total March 5 March 9 Total March 9 March 18 Total March 18 March 25 March 9 Total March 9 March 18 Total March 18 March 25 Total March 25 March 29 Total March 20 Totals Moda 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 Cost of Goods Sold Inventory Balance Date # of units # of units # of units Inventory Balance Cost per unit Cost of Goods Sold unit sold unit March 1 160 at $ 52 20 = 8,352 00 Cost per Cost per $ March 5 Average March March 9 + March 18 Average March 18 March 25 Average March 25 March 20 Totals Perpetual FIFO Perpetual LIFO Weighted Average Specific Id Compute the cost assigned to ending Inventory using specific identification. For specific identification, units sold include 95 units from beginning inventory. 225 5 purchase, 75 units from the March 18 purchase, and 115 units from the March 25 purchase. of units Date Specific Identification: Cost of Goods Sold # of units Cost per Cost of Goods Sold unit $52.20 = $ 5720 $6220 56420 Inventory Balance Cost per Inventory Balance unit 55220 552.20 = 562.20 = Goods Purchased of units Cost per Goods unit Puchased 160) $ 5220 $ 8352 255 $ 5720 14 586 115 562.20 = 7.153 210 56420 - $13.402 sold March 1 March 5 March 13 March 25 Total RRRR ( Weighted Average Step by Step Solution
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