please help and answer ALL parts!!!!
! 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 100 units @ $52.00 per unit 400 units @ $57.00 per unit 420 units @ $87.00 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 @ $62.00 per unit 200 units @ $64.00 per unit 160 units @ $97.00 per unit 580 units 820 units 2. Compute the number of units in ending inventory. Ending inventory units 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 Date Activities Mar. 1 Beginning inventory Mar. 5 Purchase Mar. 9 Sales Mar. 18 Purchase Mar. 25 Purchase Mar. 29 Sales Totals Units Acquired at Cost 100 units @ $52.00 per unit 400 units @ $57.00 per unit 120 units @ $62.00 per unit 200 units @ $64.00 per unit 420 units@ $87.00 per unit 160 units @ $97.00 per unit 580 units 820 units 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 80 units from beginning inventory and 340 units from the March 5 purchase; the March 29 sale consisted of 40 units from the March 18 purchase and 120 units from the March 25 purchase. Complete this question by entering your answers in the tabs below. Perpetual FIFO: Goods Purchased # of units unit Cost per Cost of Goods Sold Cost per Cost of Goods Sold unit # of units sold Date Inventory Balance Cost per Inventory # of units unit Balance 100 @ $ 52.00 = $ 5,200.00 March 1 March 5 March 9 March 18 March 25 March 29 Totals $ 0.00 Perpetual LIFO: Goods Purchased # of Cost per units unit Cost of Goods Sold # of units Cost per cost of Goods Sold sold unit Date Inventory Balance Cost per Inventory # of units unit Balance 100 @ $ 52.00 = $ 5,200.00 March 1 March 5 March 9 March 18 March 25 March 29 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 Cost of Goods Sold Inventory Balance Date # of units Cost per unit Cost per # of units sold Cost per Cost of Goods Sold unit # of units Inventory Balance unit March 1 100 $ 52.00 = $ 5,200.00 March 5 Average March 9 March 18 Average March 25 March 29 Totals $ 0.00 Compute the cost assigned to ending inventory using specific identification. For specific identification, the March 9 sale consisted of 80 units from beginning inventory and 340 units from the March 5 purchase; the March 29 sale consisted of 40 units from the March 18 purchase and 120 units from the March 25 purchase. Inventory Balance Specific Identification: Goods Purchased # of Date Cost per units unit March 1 Cost of Goods Sold # of units Cost per Cost of Goods sold unit Cost per Inventory Balance Sold # of units unit $ 52.00 = 100 @ $ 5,200.00 March 5 March 9 March 18 March 25 March 29 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 100 units @ $52.00 per unit 400 units @ $57.00 per unit 420 units @ $87.00 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@ $62.00 per unit 200 units @ $64.00 per unit 160 units @ $97.00 per unit 580 units 820 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 80 units from beginning inventory and 340 units from the March 5 purchase; the March 29 sale consisted of 40 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
