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 Units Sold at Retail Units Acquired at Cost 140 units @ $75 per unit 440 units @ $80 per unit Date March 1 March 5 March 9 March 18 March 25 March 29 460 units $110 per unit Activities Beginning inventory Purchase Sales Purchase Purchase Sales Totals 200 units $85 per unit 280 units @ $87 per unit 240 units @ $120 per unit 700 units 1,060 units For specific identification, units sold include 90 units from beginning inventory, 370 units from the March 5 purchase, 80 units from the March 18 purchase, and 160 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.) a) Periodic FIFO Cost of Goods Sold Ending Inventory Cost of Goods Available for Sale Cost of # of units Goods unit Available for Sale Cost per # of units sold Cost per unit Cost of Goods Sold # of units in ending inventory Cost per unit Ending Inventory 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 # of units sold Cost per unit Cost of Goods Sold # of units in ending Cost per unit Ending Inventory 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 unit Available 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 # of units Cost per unit Cost of Goods 0004 Available for Sale # of units Cost per sold unit Cost of Goods Sold # of units in ending Cost per unit Ending Inventory inventory Beginning inventory Purchases March March 18 March 25 Total