! Required information Problem 6-1A 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. Units Sold at Retail Units Acquired at Cost 200 units @ $53.00 per unit 275 units @ $58.00 per unit 360 units @ $88.00 per unit Date Activities Mar. 1 Beginning inventory Mar. 5 Purchase Mar. 9 Sales Mar. 18 Purchase Mar. 25 Purchase Mar. 29 Sales Totals 135 units @ $63.00 per unit 250 units @ $65.00 per unit 230 units @ $98.00 per unit 590 units 860 units Problem 6-1A 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 115 units from beginning inventory and 245 units from the March 5 purchase; the March 29 sale consisted of 95 units from the March 18 purchase and 135 units from the March 25 purchase. Perpetual FIFO Perpetual LIFO Weighted Average Specific Id Compute the cost assigned to ending inventory using FIFO. Perpetual FIFO: Goods Purchased # of units unit Cost per Cost of Goods Sold Cost per Cost of Goods Sold unit # of units sold Date Inventory Balance Cost per Inventory # of units unit Balance 200 @ $ 53.00 $ 10,600.00 March 1 March 5 March 9 March 18 March 25 Required information March 18 March 25 March 29 Totals $ 0.00 Required information Perpetual LIFO: Goods Purchased # of units unit Cost per Cost of Goods Sold Cost per Cost of Goods Sold unit # of units sold Date Inventory Balance Cost per Inventory # of units unit Balance 200 @ $53.00 = $ 10,600.00 March 1 March 5 March 9 March 18 March 25 March 29 Required information March 25 March 29 Totals $ 0.00