Required information I

Required information

Perpetual

Perpetual

Weighted

FIFO

LIFO

Average

Specific Id

Compute the cost assigned to ending inventory using FIFO. Required information

Perpetual

Perpetual

Weighted

FIFO LIFO

Average

Specific Id

Compute the cost assigned to ending inventory using weighted average.

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

$\backslash$table$[[$Weighted Average Perpetual:$],[$Date$,$Goods Purchased,Cost of Goods Sold,Inventory Balance$],[$# of units,$\backslash$table$[[$Cost per$],[$unit$]],\backslash$table$[[$# of units$],[$sold$]],$Cost per unit,Cost of Goods Sold,# of units,$\backslash$table$[[$Cost per$],[$unit$]],$Inventory Balance$],[$March $1,,,,160,$at$,$$$,52\mathrm{.}20,=,8,352\mathrm{.}00],[$March $5],[,,,,,,,,,,,],[$Average March $5],[$March $9],[$March $18],[,,,,,,,,,,,],[$Average March $18],[$March $25],[$ividicilzu$,,,,,,,,,,,],[$Average March $25],[$March $29],[$Totals$,,,,,0\mathrm{.}00,,,,,,]]1$

Required information

Complete this question by entering your answers in the tabs below.

$\backslash$table$[[\backslash$table$[[$Perpetual$],[$FIFO$]],\backslash$table$[[$Perpetual$],[$LIFO$]],\backslash$table$[[$Weighted$],[$Average$]],$Specific Id$,,,,,,,,,,],[\backslash$table$[[$Compute the cost assigned to ending inventory using specific identification. For specific identification, units sold include $95$ u$],[225$ units from the March $5$ purchase, $75$ units from the March $18$ purchase, and $115$ units from the March $25$ purchase.$]]],[$Specific Identification$],[$Goods Available for Sale,Cost of Goods Sold,Ending Inventory$],[$Dat$,$# of units,$\backslash$table$[[$Cost per$],[$unit$]],\backslash$table$[[$Cost of Goods$],[$Available for$],[$Sale$]],\backslash$table$[[$# of units$],[$sold$]],\backslash$table$[[$Cost per$],[$unit$]],\backslash$table$[[$Cost of$],[$Goods Sold$]],\backslash$table$[[$# of units$],[$in ending$],[$inventory$]],\backslash$table$[[$Cost per$],[$unit$]],\backslash$table$[[$Ending$],[$Inventory$]]],[$March $1,,,,$$$,0,,,0\mathrm{.}00,$$$,,$$$,0\mathrm{.}00,$$$,0],[$March $5,,,,,0,,,0\mathrm{.}00,0,,,0\mathrm{.}00,,0],[$March $18,,,,,0,,,0\mathrm{.}00,0,,,0\mathrm{.}00,,0],[$March $25,,,,,0,,,,,,,0\mathrm{.}00,,0],[$Total$,,0,,$$$,0,0,,,$$$,0,,,$$$,0]]$

$[$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.

$\backslash$table$[[$Date$,$Activities,Units Acquired at Cost,Units Sold at Retail$],[$March $1,$Beginning inventory,$160$ units @ $$52\mathrm{.}20$ per unit,$],[$March $5,$Purchase,$255$ units @ $$57\mathrm{.}20$ per unit,$],[$March $9,$Sales,,$320$ units @ $$87\mathrm{.}20$ per unit$],[$March $18,$Purchase,$115$ units @ $$62\mathrm{.}20$ per unit,$],[$March $25,$Purchase,$210$ units @ $$64\mathrm{.}20$ per unit,$],[$March $29,$Sales,,$190$ units @ $$97\mathrm{.}20$ per unit$],[$Totals$,740$ units,$510$ units$]]$

Compute the cost assigned to ending inventory using

$($a$).$ FIFO,

$($b$)$ LIFO,

$($c$)$ weighted average, and

$($d$)$ 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.