Required information Problem 5-1A 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 Date Units sold at Retail Activities 1 Beginning inventory Mar. Units Acquired at cost 130 unita e $51.60 per unit 240 units @ $56.60 per unit Mar. 5 Purchase Mar. 9 Sales Mar. 18 Purchase 290 unitse $86.60 per unit 100 units@ $61.60 per unit 180 units @ $63.60 per unit Mar. 25 Purchase Mar. 29 Sales 160 units e $96.60 per unit Totals 650 units 450 units Problem 5-1A Part 2 2. Compute the number of units in ending inventory Ending inventory units Required information 3. Compute the cost assigned to ending Inventory using (a) FIFO, (D) LIFO, (c) weighted average, and (d) specific identification. For specific identification, the March 9 sale consisted of 80 units from beginning inventory and 210 units from the March 5 purchase the March 29 sale consisted of 60 units from the March 18 purchase and 100 units from the March 25 purchase. Complete this question by entering your answers in the tabs below. Perpetual Fifo Perpetual LIFO Welghted Average Specific la Compute the cost assigned to ending inventory using LIFO. Perpetual LIFO Goods Purchased #of units unit Cost per Cost of Goods Sold Cost per cost of Goods Sold Date # of units sold Inventory Balance Cost per # of units Inventory unit Balance 130 $ 51.60 $ 6,708,00 March 1 March 5 March 9 March 18 March 25 Required information March 9 March 18 March 25 March 29 Totals S 0.00 Required information 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 Cost per of units Cost per Date Cost of Goods Sold sold March 1 Mar # of units Inventory Balance Cost per Inventory # of units unit Balance 130 $ 51,60 = $ 6,708.00 unit unit 5 March 9 March 18 March 25 March 29 Required Information March 9 March 18 March 25 + March 29 Totals $ 0.00 Perriro Perpetual LIFO > 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 weighted average. (Round your average cost per unit to 2 decimal places. Weighted Average Perpetual: Goods Purchased Cost of Goods Sold Inventory Balance Cost per cost of Goods Sold Cost per Inventory Balance March 1 130 @ $ 51.60 $ 6,708.00 Dato # of units Cost per unit # of units sold # of units unit March 5 Average March 9 March 18 Averago March 25 March 29 Totals 0.00 Required information Specific Identification: Goods Purchased Inventory Balance Cost per Cost of Goods Sold # of units Cost per Cost of Goods sold unit Sold # of units Cost per unit Inventory Balance # of units Date unit 130 @ $ 51.60 $ 6,708.00 March 1 March 5 March 9 March 18 March 25 March 29 Totals s 0.00 +
