Problem 5-1A (Algo) Periodic: Alternative cost flows LO P1

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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
March 1	Beginning inventory	135	units	@ $70 per unit
March 5	Purchase	435	units	@ $75 per unit
March 9	Sales				455	units	@ $105 per unit
March 18	Purchase	190	units	@ $80 per unit
March 25	Purchase	270	units	@ $82 per unit
March 29	Sales				230	units	@ $115 per unit
	Totals	1,030	units		685	units

For specific identification, the March 9 sale consisted of 80 units from beginning inventory and 375 units from the March 5 purchase; the March 29 sale consisted of 75 units from the March 18 purchase and 155 units from the March 25 purchase.

Compute the cost assigned to ending inventory using (a) FIFO, (b) LIFO, (c) weighted average, and (d) specific identification.

Note: Round your "average cost per unit" to 2 decimal places.

a) Periodic FIFO	Cost of Goods Available for Sale	Cost of Goods Sold	Ending Inventory
	# of units	Cost per unit	Cost of Goods 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			$0		$0.00	$0		$0.00	$0
Purchases:
March 5			0		$0.00	0		$0.00	0
March 18			0		$0.00	0		$0.00	0
March 25			0			0		$0.00	0
Total	0			0			0
b) Periodic LIFO	Cost of Goods Available for Sale	Cost of Goods Sold	Ending Inventory
	# of units	Cost per unit	Cost of Goods 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									$0
Purchases:
March 5									0
March 18									0
March 25									0
Total				0			0
c) Average Cost	Cost of Goods Available for Sale	Cost of Goods Sold	Ending Inventory
	# of units	Average Cost per unit	Cost of Goods Available for Sale	# of units sold	Average Cost per Unit	Cost of Goods Sold	# of units in ending inventory	Average Cost per unit	Ending Inventory
Beginning inventory
Purchases:
March 5
March 18
March 25
Total						$0			$0
d) Specific Identification	Cost of Goods Available for Sale	Cost of Goods Sold	Ending Inventory
	# of units	Cost per unit	Cost of Goods 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						$0			$0
Purchases:
March 5						0			0
March 18						0			0
March 25						0			0
Total				0			0