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Posted on Jul 23, 2024

Required information Problem 5-2AA (Algo) Perpetual: Alternative cost flows LO P3 [The following information applies to the questions displayed below) Warnerwoods Company uses a perpetual

Required information Problem 5-2AA (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 Unito Sold at Retail Units Required at Cont 120 unitse $51.40 per unit 235 units @ $56.40 per unit 280 units $86.40 per unit Date Activities Mar. 1 Beginning inventory Mar. 5 Purchase Mar. 9 Sales Mar. 18 Purchase Mar. 25 Purchase Mar. 29 Sales Totals 95 unitse $61.40 per unit 170 unitse $63.40 per unit 150 unitse $96.40 per unit 430 units 620 units Problem 5-2AA (Algo) Part 3 3. Compute the cost assigned to ending inventory using (a) FIFO. (b) LIFO. (c) weighted average, and (d) specific identification. For specific identification, the March 9 sale consisted of 75 units from beginning inventory and 205 units from the March 5 purchase; the March 29 sale consisted of 55 units from the March 18 purchase and 95 units from the March 25 purchase. Perpetual FIFO Perpetual UFO Weighted Average Specific id Compute the cost assigned to ending inventory using FIFO. Perpetual FIFO: Goods Purchased Cost of per unit Cost of Goods Sold Cost Cost of Goods per Sold # of units sold # of units Date unit 120 Inventory Balance Coat Inventory per unit Balance 51.40 56,100.00 15 5140 $6,168.00 56 40 6,768.00 March 1 120 March 5 120 56.40 120 Problem 5-2AA (Algo) Part 3 3. Compute the cost assigned to ending Inventory using (a) FIFO. (b)LIFO. Id weighted average, and (d) specific identification. For specific identification, the March 9 sale consisted of 75 units from beginning inventory and 205 units from the March 5 purchase; the March 29 sale consisted of 55 units from the March 18 purchase and 95 units from the March 25 purchase. Perpetual FIFO Perpetual LIFO Weighted Average Specific d Compute the cost assigned to ending Inventory using FIFO. Perpetual FIFO: Goods Purchased Cost of Goods Sold Cost of Date Cost per of units units Cost of Goods per sold unit Sold unit March 1 Inventory Balance Cost of units Inventory per Balance unit 120 151.40 56.168.00 March 5 120 l 58.40 51 40 = $6.168.00 120 120 56.40 6,788.00 12,936.00 March 9 120mle 235 5140 56.40 $ 6,168,00 13.254.00 $19.422.00 00 5640 March 18 12 > a 6140 51.40 003le 95@ 56.40 5.833.00 $5,833.00 March 25 1700 63.40 000 e 51.40 56.40 6140 95 170 5.833.00 10.778.00 16,511.00 March 20 51 40 $ 7,710.00 51.40 150 @ @ 0.00 00 00le 95 le 0.00 56.40 61.40 63.40 61.40 5,833.00 @ 0.00 170 63.40 10.778.00 $ 7.710.00 16,611.00 Total $ 27.132.00 16.611.00 Perpetual Perpetual LIFO > 56.40 120@ 235 51.40 $ 56.40 13.254.00 19,422.00 March 9 20 X $ 1,028.00 80@@ 200 @ 51.40 | 51.40 $ 56.40 - $ 4,112.00 11,280.00 $ 15,392.00 56.40 $ 1.028.00 March 18 95 le o 61.40 5 51.40 @ @ @ 56.40 95@ = 61.40 5,833.00 $ 5,833.00 March 25 170 @ 63.40 $ 6,168.00 120X 2353 95 51.40 56.40 13,254.00 61.40 5.833.00 170 63.40 10.778.00 38,033.00 March 20 5140 5 0.00 51.40 ola 56.40 0.00 120 2353 95 170e $ 6,168.00 13.254.00 56.40 61.40 0.00 5,833.00 9,510.00 $ 9,510.00 61 40 $ 63.40 10.778.00 Total 36,033.00 $ 24,902.00 36.033.00 3. Compute the cost assigned to ending inventory using (a) FIFO. (b) LIFO. (c) weighted average, and (d) specific identification. For specific identification, the March 9 sale consisted of 75 units from beginning inventory and 205 units from the March 5 purchase; the March 29 sale consisted of 55 units from the March 18 purchase and 95 units from the March 25 purchase. Complete this question by entering your answers in the tabs below. Perpetual FIFO Perpetual LIFO Weighted Specific Id Average Compute the cost assigned to ending inventory using LIFO. Perpetual LIFO: Goods Purchased #of Cost per units unit Cost of Goods Sold Cost per cost of Goods Sold unit Date # of units sold March 1 Inventory Balance # of units Cost per Inventory unit Balance 120 @ $51.40 - $ 6,168.00 120 @ $ 51.40 - $ 6,168.00 235 $ 56.40 - 13,254.00 $ 19,422.00 March 5 235 $ 56.40 March 9 20 $ 1,028,00 80 2001 $ 5140 $ 56.40 $ 4,112.00 11,280.00 $ 15,392.00 $5140 - $ 56.40 - $ 1,028.00 March 18 95 @ $ 61 40 $ 51.40 $ 56.40 $61.40 - 96 @ 5,833.00 $ 5,833.00 March 25 170 @ $63.40 120 @ 235 96 @ 170 @ $ 51.40 = $ 56.40 - $61.40 - $63.40 $ 6.168.00 13,254.00 5,833.00 10,778.00 $ 38,033.00 March 29 ole o @ o e 150 -1 $ 51.40 $ 56.40 $ 6140 $ 63.40 - ... $ 0.00 0.00 0.00 9,510.00 $ 9,510.00 $ 24,902.00 120 235 95 170 @ $ 51.40 - $ 56.40 = $61.40 - $ 63.40 - $ 6,168.00 13,254,00 5,833.00 10,778.00 $ 38,033.00 $ 36,033.00 Totals Perpetual FIFO Weighted Average > 3. Compute the cost assigned to ending Inventory using (a) FIFO. (b) LIFO. (c) weighted average, and (d) specific identification. For specific identification, the March 9 sale consisted of 75 units from beginning inventory and 205 units from the March 5 purchase; the March 29 sale consisted of 55 units from the March 18 purchase and 95 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 in Weighted Average ted average. (Round your average cost per unit to 2 decimal places.) Weighted Average Perpetual Goods Purchased Cost of Goods Sold Inventory Balance Date #of Cost per # of units units Cost per unit sold Cost per unit Cost of Goods Sold of units Inventory Balance March 1 120 @ $ 51.40 - $ 6.168.00 March 5 235 $56.40 120 @ 51.40 - $ 6.168.00 2355 56.40 13.254.00 Average $ 19.422.00 March 9 280 $ 88.40 $ 24,192.00 March 18 95 $ 6140 95 $ 61.40- 5.833,00 Average 95 @ $ 5.833.00 March 25 170 $63.40 170 @ $ 63.40 - 10.778.00 170 $ 10.778.00 March 29 150 $ 96.40 $ 14,460.00 Totals $ 38,652.00 355 0 3. Compute the cost assigned to ending inventory using (a) FIFO. () LIFO, (c) weighted average, and (d) specific identification. For specific identification, the March 9 sale consisted of 75 units from beginning inventory and 205 units from the March 5 purchase; the March 29 sale consisted of 55 units from the March 18 purchase and 95 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 specific identification. For specific identification, the March 9 sale consisted of 75 units from beginning inventory and 205 units from the March 5 purchase; the March 29 sale consisted of 55 units from the March 18 purchase and 95 units from the March 25 purchase. Specific Identification: Goods Purchased Date # of Cost per units unit March 1 March 5 235 @ $56.40 Cost of Goods Sold # of units Cost per Cost of Goods sold unit Sold March 9 75 @ 205 @ $ 5140 $ 56.40 $ 3.855.00 11,562.00 $ 15,417.00 March 18 95 $61.40 Inventory Balance # of units Cost per Inventory Balance unit 120 @ $51.40 - $ 6,168.00 $51.40 235 @ $56.40 13,254,00 $ 13,254.00 75 @ $51.40 $ 3,855.00 205 $ 56.40 - $ 11,562.00 $ 15,417.00 75 @ $ 51.40 - $ 3,855,00 205 @ $ 56.40 - 11,562,00 95 @ $61.40- 5,833.00 $ 21,250,00 75 $51.40 - $ 3,855.00 205 $ 56.40 - 11,562,00 95 $61.40- 5,833.00 170 @ $63.40 - 10,778.00 $ 32,028.00 75 @ $51.40 $ 3,855.00 206 $ 56.40 11,562.00 96 $61.40- 5,833.00 170 @ $63.40 10,778.00 $ 32,028.00 $ 32,028.00 March 25 170 @ $63.40 March 29 o ol 55 95 $ 51.40 $ 56:40 $61.40 $63.40 $ 0.00 0.00 3,377.00 6,023.00 $ 9,400.00 $ 24,817.00 Totals