Required information Problem 5-1A (Algo) Perpetual: Alternative cost flows LO P3 (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 Date Activities Beginning inventory Units Acquired at cont March Unit Bold at Retail 250 units $54.00 per unit March 5 Purchase 300 units $59.00 per unit March Salen 410 units $19.00 per unit March 18 Purchase 160 units $64.00 per unit March 25 Purchase 300 units $66.00 per unit ales 280 units # $99.00 per unit Total 1,010 unita 690 units March 20 Problem 5-1A (Algo) Part 3 3. Compute the cost assigned to ending inventory using (a) FIFO. (6) LIFO. (a weighted average, and (specific identification. For specific identification, units sold include 140 units from beginning inventory, 270 units from the March 5 purchase, 120 units from the March 18 purchase, and 160 units from the March 25 purchase. Perpetual FIFO! Cost of Goods Sold Cost per Cost of Goods Sold unit Goods Purchased # of units Cost per unit Dato # of units sold Inventory Balance Cost per Inventory # of units unit Balance 250 at $54.00 = $ 13,500.00 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 Perpetual FIFO Perpetual LIFO > Compute the cost assigned to ending inventory using LIFO. Perpetual LIFO Cost of Goods Sold Cost per Cost of Goods Sold unit Goods Purchased Cost per # of units unit Date # of units sold Inventory Balance Cost per Inventory # of units unit Balance 250 at $ 54.00 = $ 13,500.00 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 Totale Perpetual FIFO Perpetual LIFO Weighted Average Specific la Compute the cost assigned to ending inventory using weighted average. (Round your average cost per unit to 2 decimal places.) Weighted Average Perpetual Goods Purchaeta Cost of Goods Sold Inventory Balance Date # of units Cost per unit Cost of Goods Sold # of units sold Inventory Balance unit March 1 250 at $ 54.00 $ 13,500.00 Cost per # of units Cost per unit 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 140 units from beginnin 5 purchase, 120 units from the March 18 purchase, and 160 units from the March 25 purchase. Specific Identification: Goods Purchased Cost of Goods Sold Inventory Balance Date Goods # of units Cost per Cost per Cost of Goods Sold # of units # of units unit Puchased sold unit unit Inventory Balance March 1 250 at $ 54.00 $ 13,500 at $ 54.00 at $ 54.00 March 5 300 at $ 59,00 17,700 at $ 59.00 at $ 59,00 March 18 160 at $ 64.00 10.240 at $ 64.00 at $ 64.00 = March 25 300 at $ 66,00 $ 19,800 $ 66,00 at Totals Cost per 11 at
