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(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 Mar. 1 Beginning inventory 180 units @ $52.68 per unit Mar. 5 Purchase 265 units @ $57.68 per unit Mar. 9 Sales 340 units @ $87.68 per unit Mar. 18 Purchase 125 units @ $62.68 per unit Mar. 25 Purchase 238 units @ $64.68 per unit Mar. 29 Sales 210 units @ $97.60 per unit Totals 800 units 550 units Problem 6-1A Part 3 3. Compute the cost assigned to ending Inventory using (a) FIFO, (D) LIFO, (c) weighted average, and (d) specific identification. For specific Identification, the March 9 sale consisted of 105 units from beginning Inventory and 235 units from the March 5 purchase; the March 29 sale consisted of 85 units from the March 18 purchase and 125 units from the March 25 purchase. Problem 6-1A Part 3 3. Compute the cost assigned to ending Inventory using (a) FIFO. (D) LIFO.(c) weighted average, and (a specific Identification. For specific identification, the March 9 sale consisted of 105 units from beginning Inventory and 235 units from the March 5 purchase the March 29 sale consisted of 85 units from the March 18 purchase and 125 units from the March 25 purchase. Complete this question by entering your answers in the tabs below. Perpetual FIFO Perpetual LIFO Weighted Specific Id Average Compute the cost assigned to ending inventory using FIFO. Perpetual FIFO: Goods Purchased # of Cost units per unit Cost of Goods Sold Cost Cost of Goods Sold per unit # of units sold Date per unit March 1 Inventory Balance Cost # of units Inventory Balance 180 @ $ 52.60 = $ 9,468.00 180 @ $ 52.60 = $ 9,468.00 285 $57.60 = 15,284.00 $ 24,732.00 March 5 206 $57.60 March 9 180 @ $ @ $ 52.60 $57.60 $ 52.60 $57.60 = 160 @ 9,488.00 9,216.00 18,684.00 = 106 @ 6,048.00 $ 6,048.00 $ March 18 125 @ $ 62.60 105 125 @ $ 52.60 $57.60 = $ 62.60 = 6,048.00 7,825.00 $ 13,873.00 March 25 230 @ $ 64.60 @ $ 52.60 $57.60 $ 62.60 $ 64.60 = 230 @ 14,858.00 $ 14,858.00 S March 29 $ " 106 @ = @ $ 52.60 $57.60 $ 62.60 $ 64.60 0.00 6,048.00 0.00 0.00 $ 52.60 $57.60 $ 62.60 $64.60 = @ $ 8,048.00 $ 24,732.00 Totals 3. Compute the cost assigned to ending Inventory using (a) FIFO. (6) LIFO. (c) weighted average, and (d) specific Identification. For specific identification, the March 9 sale consisted of 105 units from beginning Inventory and 235 units from the March 5 purchase: the March 29 sale consisted of 85 units from the March 18 purchase and 125 units from the March 25 purchase. Complete this question by entering your answers in the tabs below. Perpetual FIFO Perpetual LIFO Weighted Average Specific Id Compute the cost assigned to ending inventory using LIFO. Perpetual LIFO: Goods Purchased # of Cost units Cost of Goods Sold Cost Cost of Goods Sold per unit Date # of units sold per unit Inventory Balance # of units Cost Inventory per unit Balance 180 @ $ 52.60 = $ 9,468.00 March 1 March 5 March 9 March 18 March 25 March 29 Totals 0.00 3. Compute the cost assigned to ending Inventory using (a) FIFO. (6) LIFO. (c) weighted average, and (a) specific Identification. For specific Identification, the March 9 sale consisted of 105 units from beginning Inventory and 235 units from the March 5 purchase the March 29 sale consisted of 85 units from the March 18 purchase and 125 units from the March 25 purchase. Complete this question by entering your answers in the tabs below. Perpetual FIFO Perpetual LIFO Weighted Average Specific Id per unit 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 #of Date Cost # of units Cost Cost units sold Cost of Goods Sold # of units per unit per unit Inventory Balance March 1 180 $ 52.60 s 9,468.00 March 5 206 @ $57.60 180 @ $ 52.60 = S 9,468.00 285 $57.60 = 15,264.00 Average $55.58 = $ 24,732.00 March 9 340 @ $ 55.58 $ 18,897.20 105 @ $55.58 = $ 5,835.90 March 18 125 @ $ 62.60 105 @ $55.58 = 5,835.90 $ 62.60 = 7,825.00 Average 230 @ $ 13,680.90 March 25 230 $64.60 105 125 $ 64.60 = 8.075.00 $ 62.60 $ 8.075.00 445 @ 125 230 @ 210 @ $ 62.00 250 @ $ 62.00 = $ 15,500.00 March 29 Totals $ 13,020.00 $ 31,917.20 3. Compute the cost assigned to ending inventory using (a) FIFO. (6) LIFO. (C) weighted average, and () specific identification. For specific identification, the March 9 sale consisted of 105 units from beginning Inventory and 235 units from the March 5 purchase the March 29 sale consisted of 85 units from the March 18 purchase and 125 units from the March 25 purchase. Complete this question by entering your answers in the tabs below. Perpetual FIFO Perpetual LIFO Weighted Specific Id Average Compute the cost assigned to ending inventory using specific identification. For specific identification, the March 9 sale consisted of 105 units from beginning inventory and 235 units from the March 5 purchase; the March 29 sale consisted of 85 units from the March 18 purchase and 125 units from the March 25 purchase. Specific Identification: Goods Purchased Cost of Goods Sold Inventory Balance #of Date Cost # of units Cost of Goods Cost units # of units sold per unit Sold per unit Inventory Balance March 1 180 $ 52.60 - $ 9,488.00 March 5 Cost per unit March 9 March 18 March 25 March 29 Totals S 0.00
