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Problem 6-2AA Periodic: Alternative cost flows LO P3 [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 Date Activities Units Acquired at Cost Units Sold at Retail Mar 1 Beginning inventory 130 units $65 per unit Mar. 5 Purchase 430 units@ $70 per unit Mar 9 Sales 450 units@ $100 per unit Mar. 18 Purchase 180 units @ $75 per unit Mar 25 Purchase 260 units @ $77 per unit Mar. 29 Sales 220 units @ $120 per unit Totals 1,eee units 678 units For specific identification, the March 9 sale consisted of 70 units from beginning inventory and 380 units from the March 5 purchase the March 29 sale consisted of 70 units from the March 18 purchase and 150 units from the March 25 purchase Problem 6-2AA Part 1 Required. 1. Compute cost of goods available for sale and the number of units available for sale Cost of Goods Available for Sale # of Units Cost of Goods Available Unit for Sale Cost per Beginning inventory Purchases March 5 March 18 March 25 Total Required information Problem 6-2AA Periodic: Alternative cost flows LO P3 [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 Units sold at Retail Units Acquired at Cost 138 units@ $65 per unit 430 unitse se per unit 458 units@ $100 per unit Date Activities Mar. 1 Beginning inventory Mar. 5 Purchase Mar. 9 Sales Mar. 18 Purchase Mar. 25 Purchase Mar. 29 Sales Totals 180 units@ $75 per unit 260 units @ $77 per unit 22e units $110 per unit 678 units 1, eee units For specific identification, the March 9 sale consisted of 70 units from beginning inventory and 380 units from the March 5 purchase, the March 29 sale consisted of 70 units from the March 18 purchase and 150 units from the March 25 purchase Problem 6-2AA Part 2 2. Compute the number of units in ending Inventory Ending vendory units 4 Required information Problem 6-2AA Periodic: Alternative cost flows LO P3 [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 Units Sold at Retail 1 OK 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 138 units @ $65 per unit 438 units@ $70 per unit 188 units@ $75 per unit 260 units @ $77 per unit 450 units @ $100 per unit 220 units $110 per unit 670 units VE 1, eee units For specific identification, the March 9 sale consisted of 70 units from beginning inventory and 380 units from the March purchase the March 29 sale consisted of 70 units from the March 18 purchase and 150 units from the March 25 purchase Problem 6-2AA Part 3 3. Compute the cost assigned to ending inventory using (a) FIFO, (b) LIFO, (c) weighted average, and (d) specific identification (R your average cost per unit to 2 decimal places.) a) Periodic FIFO Cost of Goods Sold Ending Inventory Cost of Goods Available for Sale Cost of Goods unit Available for Sale # of units Cost per # of units sold Cost per unit Cost of Goods Sold # of units in ending inventory Cost per unit Ending Inventory Beginning inventory . a) Periodic FIFO Cost of Goods Sold Ending Inventory Cost of Goods Available for Sale Cost of Cost per Goods # of units unit Available for Sale # of units sold Cost per unit Cost of Goods Sold # of units in ending inventory Cost per unit Ending Inventory Beginning inventory Purchases March 5 March 18 March 25 Total b) Periodic LIFO Cost of Goods Sold Ending Inventory Cost of Goods Available for Sale Cost of # of units Goods unit Available for Sale Cost per # of units sold Cost per Cost per unit Cost of Goods Sold # of units in ending inventory unit Ending Inventory Beginning inventory Purchases: March 5 March 18 March 25 Total c) Average Cost Cost of Goods Sold Cost of Goods Available for Sale Average Cost of # of units Cost per Goods unit Available for Sale # of units sold Average Cost per Unit Cost of Goods Sold Ending Inventory # of un Average in ending Cost per Ending inventory unit Inventory Beginning inventory Purchases Required information March 18 March 25 Total 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 Average Cost per Unit # of units sold Ending Inventory # of units Average Ending in ending Cost per inventory unit Inventory Cost of Goods Sold 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 Cost per # of units Cost of Goods Available for Sale # of units sold Cost per unit Cost per Cost of Goods Sold unit # of units in ending inventory unit Ending Inventory Beginning inventory Purchases March 5 March 18 March 25 Total