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 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 Cost 110 units @ $51.20 per unit 230 units@ $56.20 per unit 90 units @ $61.20 per unit 160 units @ $63.20 per unit 270 units @ $86.20 per unit 140 units @ $96.20 per unit 410 units 590 units Problem 6-1A Part 1 Required: 1. Compute cost of goods available for sale and the number of units available for sale. Cost of Goods Available for Sale Cost per Cost of Goods # of units Unit Available for Sale Beginning inventory Purchases: March 5 March 18 March 25 Total Problem 6-1A Part 2 2. Compute the number of units in ending inventory. Ending inventory 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 70 units from beginning inventory and 200 units from the March 5 purchase; the March 29 sale consisted of 50 units from the March 18 purchase and 90 units from the March 25 purchase. Complete this question by entering your answers in the tabs below. Perpetual Perpetual Weighted Specific FIFO LIFO Average Id Compute the cost assigned to ending inventory using FIFO. Perpetual FIFO: Goods Cost of Goods Sold Purchased Inventory Balance Cost # of Cost Cost Date # of units Cost of Goods per per Inventory sold units Sold # of units per unit unit Balance unit March 1 $ $ 110 @ 51.20 5,632.00 March 5 March 9 March 18 March 25 March 29 Totals Perpetual FIFO Perpetual LIFO > 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 70 units from beginning inventory and 200 units from the March 5 purchase; the March 29 sale consisted of 50 units from the March 18 purchase and 90 units from the March 25 purchase. Complete this question by entering your answers in the tabs below. Perpetual Perpetual Weighted Specific FIFO LIFO Average Id Compute the cost assigned to ending inventory using LIFO. Perpetual LIFO: Goods Cost of Goods Sold Purchased Inventory Balance # of Cost Cost Date # of units Cost of Goods per units Inventory per sold # of units Sold per unit unit Balance unit March 1 $ $ 51.20 5,632.00 March 5 Cost 110 @ March 9 March 18 March 25 March 29 Totals 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 70 units from beginning inventory and 200 units from the March 5 purchase; the March 29 sale consisted of 50 units from the March 18 purchase and 90 units from the March 25 purchase. Complete this question by entering your answers in the tabs below. Perpetual Perpetual Weighted Specific FIFO LIFO Average Id Compute the cost assigned to ending inventory using weighted average. (Round your average cost per unit to 2 decimal places.) Cost of Goods Sold Inventory Balance Weighted Average Perpetual: Goods Purchased Cost # of Date units per unit Cost # of units sold Cost of Goods Sold # of units per unit Inventory Balance Cost per unit $ 51.20 March 1 110 @ $ 5,632.00 March 5 Average March 9 March 18 Average March 25 March 29 Totals 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 70 units from beginning inventory and 200 units from the March 5 purchase; the March 29 sale consisted of 50 units from the March 18 purchase and 90 units from the March 25 purchase. Complete this question by entering your answers in the tabs below. ******** Perpetual Perpetual Weighted Specific FIFO LIFO Average Id Compute the cost assigned to ending inventory using specific identification. For specific identification, the March 9 sale consisted of 70 units from beginning inventory and 200 units from the March 5 purchase; the March 29 sale consisted of 50 units from the March 18 purchase and 90 units from the March 25 purchase. Show less Specific Identification: Goods Purchased Cost of Goods Sold Inventory Balance Cost Cost Cost Date # of # of units Cost of per units Inventory per # of units sold per unit unit Goods Sold Balance unit March 1 $ 110 @ 51.20 = $5,632.00 March 5 March 9 March 18 March 25 March 29 Totals