! Required information Problem 6-1A (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 100 units @ $51.00 per unit 225 units @ $56.00 per unit Date March 1 March 5 March 9 March 18 March 25 March 29 260 units @ $86.00 per unit Activities Beginning inventory Purchase Sales Purchase Purchase Sales Totals 85 units 150 units @ $61.00 per unit @ $63.00 per unit 130 units @ $96.00 per unit 390 units 560 units Perpetual FIFO Perpetual LIFO Specific Id Average Compute the cost assigned to ending inventory using FIFO. Perpetual FIFO: Cost of Goods Sold Date Goods Purchased Cost per # of units unit Cost per # of units sold Inventory Balance Cost per Inventory # of units unit Balance 100 at $ 51.00 $ 5,100.00 unit Cost of Goods Sold 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 Perpetual FIFO Perpetual LIFO Weighted Average Specific Id Compute the cost assigned to ending inventory using LIFO. Perpetual LIFO: Cost of Goods Sold Cost per unit Cost of Goods Sold Goods Purchased Cost per # of units unit Date # of units sold Inventory Balance Cost per Inventory # of units unit Balance 100 at $ 51.00 = $ 5,100.00 March 1 March 5 Total March 5 March 9 Total March 9 March 18 Total March 18 March 25 Total March 25 Perpetual FIFO Perpetual LIFO Weighted Average Specific Id Compute the cost assigned to ending inventory using LIFO. Perpetual LIFO: Cost of Goods Sold Cost per unit Cost of Goods Sold Goods Purchased Cost per # of units unit Date # of units sold Inventory Balance Cost per Inventory # of units unit Balance 100 at $ 51.00 = $ 5,100.00 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 $ 0.00 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 Date Goods Purchased Cost per # of units unit # of units sold Cost per unit Cost of Goods Sold # of units Inventory Balance Cost per Inventory Balance unit $ 51.00 = $ 5,100.00 March 1 100 at March 5 Average March 5 March 9 March 18 Average March 18 March 25 Average March 25 March 29 Totals $ 0.00 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, units sold include 65 units from beginning inventory, 195 units from the March 5 purchase, 45 units from the March 18 purchase, and 85 units from the March 25 purchase. Specific Identification Goods Available for Sale Cost of Goods Sold Ending Inventory Date Cost per # of units Cost of Goods Available for # of units Sale Cost per unit Cost of Goods Sold # of units in ending inventory Cost per unit Ending Inventory unit sold March 1 $ 0 $ 0.00 $ 0 $ 0.00 $ 0 March 5 0 0.00 0 0.00 0 March 18 0 0.00 0 0.00 0 March 25 0 0.00 0 Total 0 $ 0 0 $ 0 0 $ 0