Required information Problem 5-1A (Algo) Periodic: Alternative cost flows LO P1 [The following information applies to the questions displayed below.) Warnerwoods Company uses a periodic inventory system. It entered into the following purchases and sales transactions for March Units Sold at Retail Units Acquired at Cost 110 unit) $45 per unit 410 units@ $50 per unit Date Activities Mar. 1 Beginning inventory Mar. 5 Purchase Mar. 9 Sales Mar. 10 Purchase Mar. 25 Purchase Mar. 29 Sales Totals 430 units $0 per unit 140 units 555 per unit 220 units 557 per unit 10 units $90 per unit 610 units 880 units For specific identification, the March 9 sale consisted of 60 units from beginning inventory and 370 units from the March 5 purchase the March 29 sale consisted of 50 units from the March 18 purchase and 130 units from the March 25 purchase. Problem 5-1A (Algo) Part 3 3. Compute the cost assigned to ending inventory using la FIFO (6) LIFO (c/ weighted average, and (d) specific identification (Round your "overage cost per unit" to 2 decimal places.) 2) Periodic FIFO Cost of Goods Available for Sale Cost of Goods Sold Ending Inventory Cost per unit Cost per # of units Cost per Cost of Goods Available for Sale # of units sold Cost of Goods Sold # of units in ending Inventory unit Ending Inventory unit 29 Beginning inventory Purchases March 5 March 18 March 25 Total b) Periodic LIFO Cost of Goods Sold Ending Inventory Cost of Goods Available for Sale Cost of Cost per of units Goods unit Available for Sale Hof units sold Cost per unit Cost of Goods Sold of units in ending inventory Cost per unit Ending Inventory Beginning inventory Purchases March 5 March 18 March 25 Total c) Average Cost Cost of Goods Sold Ending Inventory Cost of Goods Available for Sale Cost of Average # of units Cost per Goods Available unit for Sale # of units sold Average Cost per Unit Cost of Goods Sold # of units in ending inventory Average Cost per unit Ending Inventory 2:26 Beginning inventory Purchases March 5 March 10 Much 25 Total 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 Purchases March 5 March 10 March 25