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Please help with finding perpetual FIFO , perpetual LIFO , weighted average , and specific Id Thank you [The following information applies to the questions
Please help with finding perpetual FIFO , perpetual LIFO , weighted average , and specific Id
[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 Cont Units sold at Retail Mar. 1 Beginning inventory 100 units & $50 per unit Mar. 5 Purchase 400 units e$55 per unit Mar. 9 Sales 420 unita# $85 per unit Mar. 18 Purchase 120 unita $60 per unit Mar. 25 Purchase 200 units $62 per unit Mar. 29 Sales 160 units. $95 per unit Totala 820 units 580 unita 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. Perpetual FIFO Perpetual LIFO Weighted Average Specific Id Compute the cost assigned to ending Inventory using FIFO. Perpetual FIFO: Goods Purchased #of units unit Cost per Cost of Goods Sold Cost Cost of Goods Sold unit Date of units sold per Inventory Balance Cost per # of units unit Inventory Balance 100 $ 50.00 = $ 5,000.00 March 1 March 5 4001 $ 55.00 100 @ 400 m $ 50.00 - $ 55,00 - $ 5,000.00 22,000.00 $ 27,000.00 March 9 @ $ 50.00 $ 55.00 : 0.00 0.00 @ @ $ 50.00 $ 55.00 + March 18 120 @ $ 60.00 @ 80 @ 1201 $ 50.00 $ 55,00 - $ 60.00 4,400.00 7,200.00 $ 11,600.00 March 25 March 5 4001 @ $ 55.00 100 400 @ $ 50.00 = $ 55.00 = $ 5,000.00 22,000.00 $ 27,000.00 March 9 li $ @ @ $50.00 $ 55.00 0.00 0.00 $ 50.00 $ 55.00 @ March 18 120 @ $ 60.00 $ 50.00 $ 55.00 $ 60.00 = 801 @ 1201 . 4.400.00 7,200.00 $ 11,600.00 March 25 + March 29 Totals $ 0.00 $ 0.00 Thank you
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