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Please round your average cost per unit 2 decimial places for the Weighted Average chart. Warnerwoods Company uses a perpetual inventory system. It entered into
Please round your average cost per unit 2 decimial places for the Weighted Average chart.
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 160 units @ $52.20 per unit 255 units @ $57.20 per unit 320 units @ $87.20 per unit Dato March 1 March 5 March 9 March 18 March 25 March 29 Activities Beginning inventory Purchase Sales Purchase Purchase Sales Totals 115 units @ $62.20 per unit 210 units @ $64.20 per unit 190 units @ $97.20 per unit 510 units 740 units 3. Compute the cost assigned to ending inventory using (a) FIFO, (b) LIFO. (weighted average, and (c) 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. Cost per unit 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 # of units # of units Cost per unit Cost of Goods Sold Inventory Balance sold unit March 1 160 at $ 52.20 = $ 8,352.00 255) at $5720 160 at $ 52 20 = $ 8,352.00 March 5 255) at $ 57.20 14,586.00 Average March 415 at $ 55.27 $ 22,938.00 March 9 3201 at 55 27 $ 17,686.40 95 at 55 27 $ 5,250.65 115 at $6220 95 at $ 55.27= $ 5,250 65 March 18 115 at $ 62 20 = 7,153 00 Average March 18 $ 59 011 = S 12,403.65 210 at $ 6420 2101 at $ 59 01 = $ 12,392.10 March 25 210 at $ 64.20 13.482.00 Average March 25 420 at S 6161 S 25,874.10 $ $ 210 at Weighted Average Perpetual: Cost of Goods Sold Goods Purchased Inventory Balance Cost per Date Cost per #of units sold Cost per unit Hof units Cost of Goods Sold # of units Inventory Balance unit unit 160 at $ 52 20 = $ 8,352.00 March 1 2551 at $57 20 March 5 160 at 255) at 415 at $ S $ 52 20 = 57 20 = 55.27] = $ 8,352.00 14,586.00 $ 22,938.00 Average March 5 March 9 $ 55 27 $ 17,686.40 320 at 5 95 at $ 55 27= 5.250.65 $ 115 at $ 6220 March 18 95 at 115 at 210 at $ $ 5,250 65 7.153.00 $ 12,403 65 Average March 18 55 27 = 62,20 59,01 = 59,01 = 64 20 = 61.61 = 210 at $64.20 March 25 210 at 210 at 420 at $ $ $ $ 12,392 10 13,48200 $ 25,874 10 Average March 25 190 at Ls 61.61 230 at $ 6161 = $ 14,170.30 March 29 Totals $ 11,705.90 $ 29,392 30 Step by Step Solution
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