Required information Problem 6-2AA 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 Mar. 1 Beginning inventory 155 units@ $45 per unit Mar. 5 Purchase 455 units @ $50 per unit Mar. 9 Sales 475 units@ $80 per unit Mar. 18 Purchase 230 units@ $55 per unit Mar. 25 Purchase 310 units@ $57 per unit Mar. 29 Sales 270 units@ $90 per unit Totals 1,150 units 745 units For specific identification, the March 9 sale consisted of 50 units from beginning inventory and 425 units from the March 5 purchase; the March 29 sate consisted of 95 units from the March 18 purchase and 175 units from the March 25 purchase. Problem 6-2AA Part 3 3. Compute the cost assigned to ending inventory using (a) FIFO. (6) LIFO. (c) weighted average, and (d) specific identification (Round Four average cost per unit to 2 decimal places.) a) Periodic FIFO Cost of Goods Available for Sale Cost of Goods Sold Ending Inventory Cost per unit # of units Cost per Cost per Cost of Goods Available for Sale # of units sold Cost of Goods Sold # of units in ending Inventory Ending Inventory unit unit $ 0 $ 0.00 S 0 $ 0.00 $ 0 0 $ 0 Beginning inventory Purchases: March 5 March 18 March 25 Total $ $ 0.00 0.00 0.00 0.00 0 OOO $ 0 0 69 0.00 0 0 0 0 b) Periodic LIFO Cost of Goods Sold Ending Inventory Cost of Goods Available for Sale Cost of Goods # of units unit Available for Sale Cost per Cost per # of units sold Cost of Goods Sold unit # of units in ending inventory Cost per unit Ending Inventory $ 0 Beginning inventory Purchases: March 5 o 0 March 18 March 25 Total 0 0 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 $ 0 $ 0 d) Specific Identification Cost of Goods Available for Sale Cost of Goods Sold Ending Inventory # of units Cost per Cost Goods Available for Sale Cost per # of units sold unit Cost of Goods Sold Cost per unit # of units in ending Inventory unit Ending Inventory $ 0 $ 0 Beginning inventory Purchases March 5 March 18 March 25 Total 0 0 0 0 Oo 0