Required information Problem 5-1A (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 Units Acquired at Cost 140 units @ $51.80 per unit 245 units @ $56.80 per unit Date March 1 March 5 March 9 March 18 March 25 March 29 300 units @ $86.80 per unit Activities Beginning inventory Purchase Sales Purchase Purchase Sales Totals 105 units @ $61.80 per unit 190 nits @ $63.80 per unit 170 units @ $96.80 per unit 470 units 680 units Problem 5-1A (Algo) Part 3 3. Compute the cost assigned to ending inventory using (a) FIFO; (b) LIFO, (dweighted average, and (d) specific identification. For specific identification, units sold include 85 units from beginning inventory, 215 units from the March 5 purchase, 65 units from the March 18 purchase, and 105 units from the March 25 purchase. Complete this question by entering your answers in the tabs below. Perpetual FIFO Perpetual LIFO Weighted Average Specific Id 3. 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 85 units from beginning inventory, 215 units from the March 5 purchase, 65 units from the March 18 purchase, and 105 units from the March 25 purchase. Complete this question by entering your answers in the tabs below. Perpetual FIFO Perpetual LIFO Weighted Average Specific Id Compute the cost assigned to ending inventory using FIFO. Perpetual FIFO: Goods Purchased Cost of Goods Sold Date Cost per Cost per Cost per # of units # of units sold Inventory Balance Inventory # of units unit Balance 140 $ 51.80 $ 7.252.00 Cost of Goods Sold unit unit March 1 at March 5 Total March 5 + March 9 Total March March 18 Total March 18 Perpetual FIFO Perpetual LIFO Weighted Average Specific Id Compute the cost assigned to ending Inventory using LIFO. Perpetual LIFO: Cost of Goods Sold Goods Purchased Date # of units Cost per unit # of units sold Cost per Cost of Goods Sold Inventory Balance Cost per # of units Inventory Balance unit 140 at $ 51.80 = $ 7,252.00 unit March 1 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 $ 0.00 LOG DALLA 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: Cost of Goods Sold Goods Purchased Inventory Balance Date Cost per # of units # of units sold Cost per unit Cost per unit Cost of Goods Sold # of units March 1 Inventory Balance unit 51.80 = $ 7.252.00 140 at $ March 5 Average March 5 March 9 March 18 Average March 18 March 25 Average March 25 March 29 Totals Perpetual FIFO Perpetual LIFO Weighted Average Specific Id Compute the cost assigned to ending inventory using specific identification. For specific identification, units sold include 85 units from begin units from the March 5 purchase, 65 units from the March 18 purchase, and 105 units from the March 25 purchase. Specific Identification Goods Available for Sale Cost of Goods Sold Date Cost per unit # of units Cost of Goods Available for Sale # of units sold Cost per unit Ending Inventory # of units Ending in ending unit Inventory inventory Cost of Goods Sold Cost per March 1 March 5 March 18 March 25 Total