Problem 6-1A (Algo) Perpetual: Alternative cost flows LO P1 (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 Units sold at Retail Date March 1 Activities Beginning inventory Purchase Units Aequired at Cost 170 unite $52.40 per unit @ $57.40 per 260 units unit March 5 March 9 Sales @ $87.40 per 330 units unit March 18 Purchase @ $62.40 per 120 units unit @ $64.40 per 220 unita unit March 25 Purchase March 29 Sales $97.40 per 200 units unit 530 units Totals 770 units Problem 6-1A (Algo) Part 3 3. Compute the cost assigned to ending inventory using (a) FIFO, (D) LIFO. (weighted average, and (a specific Identification. For specific identification units sold include 100 units from beginning inventory, 230 units from the March 5 purchase, 80 units from the March 18 purchase, and 120 units from the March 25 purchase. Complete this question by entering your answers in the tabs below. Perpetual Perpetual Weighted Specific FIFO LIFO Average Id Compute the cost assigned to ending inventory using FIFO. Perpetual FIFO: Goods Purchased Cost of Goods Sold Inventory Balance Date Cost Cost Cost # of units per # of units Cost of Goods sold Inventory # of units per Sold unit unit Balance $ March 1 170 at $ 52.40 8,908.00 March 5 Total March 5 per unit March 9 Total March 9 March 18 Total March 18 March 25 Total March 25 March 29 Total March 29 Totals Problem 6-1A (Algo) Perpetual: Alternative cost flows LO P1 (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 Units Sold at Retail Date March 1 Activities Beginning inventory Purchase Units Acquired at Cost 170 units @ $52.40 per unit @ $57.40 per 260 units unit March 5 March 9 Sales @ $67.40 per 330 units unit March 18 Purchase @ $62.40 per 120 units unit 220 unito @ $64.40 per unit March 25 Purchase March 29 Sales @ $97.40 per 200 units unit Totals 770 units 530 unita Problem 6-1A (Algo) Part 3 3. Compute the cost assigned to ending inventory using (6) FIFO (O) LIFO. (C) weighted average, and (d) specific Identification. For specific identification, units sold include 100 units from beginning inventory, 230 units from the March 5 purchase, 80 units from the March 18 purchase, and 120 units from the March 25 purchase. Complete this question by entering your answers in the tabs below. Perpetual Perpetual Weighted Specific FIFO LIFO Average Id Compute the cost assigned to ending inventory using LIFO. Perpetual LIFO: Goods Purchased Cost of Goods Sold Inventory Balance Date Cost Cost Cost # of units # of units per Cost of Goods Inventory # of units per per sold unit Sold unit unit Balance $ March 1 170 at 52.40 8,908.00 March 5 Total March 5 March 9 Total March 9 March 18 Total March 18 March 25 Total March 25 March 29 Total March 29 Totals Required information Problem 6-1A (Algo) Perpetual: Alternative cost flows LO P1 (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 Units sold at Retail Date March 1 Activities Beginning inventory Purchase Units acquired at Cost 170 units @ $52.40 per unit @ $57.40 per 260 units unit March 5 March 9 Sales 330 units @ $67.40 per unit Purchase March 18 March 25 @ $62.40 per 120 units unit 220 units @ $64.40 per unit Purchase March 29 Sales $97.40 per 200 units unt 530 units Totals 770 units Problem 6-1A (Algo) Part 3 3. Compute the cost assigned to ending inventory using (a) FIFO, (D) LIFO. (weighted average, and (a specific Identification. For specific identification, units sold include 100 units from beginning inventory, 230 units from the March 5 purchase, 80 units from the March 18 purchase, and 120 units from the March 25 purchase. Complete this question by entering your answers in the tabs below. Date Cost per Perpetual Perpetual Weighted Specific FIFO LIFO Average 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 Cost # of units # of units Cost of per # of units Cost per Inventory sold unit unit Goods Sold unit Balance March 1 S 170 at $ 52.40 = 8.908.00 March 5 Average March 5 March 9 March 18 Average March 18 March 25 Average March 25 March 29 Totals Required Information Problem 6-1A (Algo) Perpetual: Alternative cost flows LO P1 (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 Units Sold at Retail Date March 1 Activities Beginning inventory Purchase Units Acquired at Cost $52.40 per 170 units unit 260 units @ $57.40 per unit March 5 March 9 Sales @ $87.40 per 330 unita unit March 18 Purchase @ $62.40 per 120 units unit @ $64.40 per 220 units unit March 25 Purchase March 29 Sales @ $97.40 per 200 units unit 530 units Totals 770 units Problem 6-1A (Algo) Part 3 3. Compute the cost assigned to ending inventory using (6) FIFO (O) LIFO. (C) weighted average, and (d) specific identification. For specific identification, units sold include 100 units from beginning inventory 230 units from the March 5 purchase, 80 units from the March 18 purchase, and 120 units from the March 25 purchase. Complete this question by entering your answers in the tabs below. Perpetual Perpetual Weighted Specific FIFO LIFO Average Id Compute the cost assigned to ending inventory using specific identification. For specific identification, units sold include 100 units from beginning inventory, 230 units from the March 5 purchase, 80 units from the March 18 purchase, and 120 units from the March 25 purchase. Show less Specific Identification Goods Available for Sale Cost of Goods Sold Ending Inventory Date Cost of Cost # of # of Goods Cost Cost of # of units Cost units per units Goods in ending Ending per Available unit sold per unit Sold for Sale Inventory unit Inventory March 1 March 5 March 18 March 25 Total