! Required Information Problem 6-2AA (Algo) Periodic: Alternative cost flows LO P3 [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 Date Activities Units Acquired at Cost Units sold at Retail March 1 Beginning inventory 115 units @ $50 per unit Purchase 415 units @ $55 per unit Sales 435 units @ $85 per unit March 18 Purchase 150 units @ $68 per unit March 25 Purchase 230 units @ $62 per unit March 29 Sales 190 units @ $95 per unit Totals 910 units 625 units March 5 March 9 For specific identification, units sold include 50 units from beginning inventory. 385 units from the March 5 purchase, 55 units from the March 18 purchase, and 135 units from the March 25 purchase. Problem 6-2AA (Algo) Part 3 3. Compute the cost assigned to ending inventory using (a) FIFO. (b) LIFO. (c) weighted average, and (d) specific identification. (Round your "average cost per unit" to 2 decimal places.) 3. Compute the cost assigned to ending inventory using (a) FIFO. (b) LIFO. (c) weighted average, and (d) specific identification. (Round your "average cost per unlt" to 2 decimal places.) a) Periodic FIFO Cost of Goods Sold Ending Inventory Cost of Goods Available for Sale Cost of Cost per Goods # of units unit Available for Sale Cost per Cost per # of units sold Cost of Goods Sold unit # of units in ending inventory Ending Inventory unit Beginning inventory Purchases: March 5 March 18 March 25 Total b) Periodic LIFO Cost of Goods Sold Ending Inventory Cost of Goods Available for Sale Cost of Cost per Goods # of units unit Available for Sale Cost per # of units sold Cost per unit Cost of Goods Sold # of units in ending inventory unit Ending Inventory Beginning inventory Purchases: March 5 March 18 March 25 Total c) Average Cost Cost of Goods Sold Ending Inventory Cost of Goods Available for Sale Cost of Average Goods # of units Cost per Available unit for Sale # of units sold Average Cost per Unit Cost of Goods Sold # of units in ending inventory Average Cost per unit Ending Inventory Beginning inventory Purchases: March 5 March 18 March 25 Total d) Specific Identification Cost of Goods Available for Sale Cost of Goods Sold Ending Inventory Cost per # of units unit Cost of Goods Available for Sale # of units sold Cost per Cost per unit Cost of Goods Sold # of units in ending inventory unit Ending Inventory Beginning inventory Purchases: March 5 March 18 March 25 Total