Required information Problem 5-1A (Static) 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 Date Activities Mar. 1 Beginning inventory Mar. 5 Purchase Mar. 9 Sales Mar. 18 Purchase Mar. 25 Purchase Mar. 29 Sales Totals Units Acquired at Cont 100 units # $50 per unit 400 units 4 $55 per unit 120 units & $60 per unit 200 units $62 per unit 420 units & ses per unit 160 unites per unit 820 units 580 unita For specific identification, the March 9 sale consisted of 80 units from beginning inventory and 340 units from the March 5 purchase the March 29 sale consisted of 40 units from the March 18 purchase and 120 units from the March 25 purchase. Problem 5-1A (Static) Part 3 3. Compute the cost assigned to ending Inventory using (6) FIFO (6) LIFO. (c) weighted average, and (d) specific identification (Round your average cost per unit to 2 decimal places.) a) Periodic FIFO Cost of Goode Avaliable for Sale Cost of Goods Sold Ending Inventory Problem 5-1A (Static) Part 3 3. Compute the cost assigned to ending inventory using (a) FIFO, (D) LIFO. (C) weighted average, and (d) specific identification (Round your average cost per unit to 2 decimal places.) a) Periodic FIFO Cost of Goods Available for Sale Cost of Goods Sold Ending Inventory of units Cost per unit Cost of Goods Available for Sale $ 0 #of units sold Cost per unit Cost of Goods Sold #of units in ending Cost per unit Inventory Ending Inventory $ 0 $ 0.00 $ 0 0 0 $ 0.00 0 Beginning inventory Purchases: March 5 March 18 March 25 Total 0 0 0 0 0 0 0 0 b) Periodic LIFO Cost of Goods Sold Ending Inventory Cost of Goods Available for Sale Cost of Goods # of units Cost per unit Available for Sale # of units sold Cost per unit Cost of Goods Sold # of units in onding Cost per unit inventory Ending Inventory Beginning inventory Purchases: March 5 March 18 Required information b) Periodic LIFO Cost of Goods Sold Ending Inventory Cost of Goods Available for Sale Cost of Goods # of units Cost per unit Available for Sale # of units sold Cost per unit Cost of Goods Sold # of units in ending Cost per unit Inventory Ending Inventory Beginning inventory Purchases: March 5 March 18 March 25 Total 0 0 c) Average Cost Cost of Goods Sold Ending Inventory Cost of Goods Available for Sale Cost of Average Goods # of units Cost per unit Available for Sale # of units Average Cost sold per Unit Cost of Goods Sold # of units In ending Average Cost Ending Inventory Inventory per unit Beginning inventory Purchases March 5 March 18 March 25 Total $ 0 $ 0 d) Specific Identification Cost of Goods Available for Sale Cost of Goods Sold Ending Inventory 1 Required information c) Average Cost Cost of Goods Sold Ending Inventory Cost of Goods Available for Sale Cost of of units Average Goods Cost per unit Available for Sale # of units Average Cost sold per Unit Cost of Goods Sold # of units in ending Average Cost Ending per unit Inventory Inventory Beginning inventory Purchases: March 5 March 18 March 25 Total $ 0 $ 0 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 Cost per unit Inventory Ending Inventory 0 $ 0 Beginning inventory Purchases: March 5 March 18 March 25 0 0 0 0 0 Total 0 0