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. Units Sold at Retail Units Acquired at Cost 190 units @ $80 per unit 490 units @ $85 per unit Date Activities Mar. 1 Beginning inventory Mar. 5 Purchase Mar. 9 Sales Mar. 18 Purchase Mar. 25 Purchase Mar. 29 Sales 510 units @ $115 per unit 300 units @ $90 per unit 380 units @ $92 per unit 340 units @ $125 per unit 850 units Totals 1,360 units For specific identification, the March 9 sale consisted of 50 units from beginning inventory and 460 units from the March 5 purchase; the March 29 sale consisted of 130 units from the March 18 purchase and 210 units from the March 25 purchase. a) Periodic FIFO Ending Inventory Cost of Goods Available for Sale Cost of Goods Sold Cost of # of units Cost per Goods Cost of # of units Cost per Goods unit Available unit Sold for Sale 190 $ 80.00 $ 15,200 | 1901 $ 80.00 $ 15,200 # of units in ending inventory Cost per unit Ending Inventory sold $ 0.00 $ 0 Beginning inventory Purchases: March 5 $ $ 85.00 90.00 92.00 0.00 90.00 01 15,300 March 18 490| $ 300 $ 380 $ 1,360 170 41,650 27,000 34,960 $ 118,810 $ $ $ 0.00|| 0.00 92.00 0 March 25 Total 380 380 34,960 $ 34,960 360 $ 30,500 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 L 190 $ 80.00 $ 15,200 # of units sold Cost per unit Cost of Goods Sold Cost per # of units in ending inventory Ending Inventory unit Invont. Beginning inventory Purchases: March 5 170 $ 85.00 14,450 March 18 490 300 380 1,360 $ $ $ 85.00 90.00 92.00 41,650 27,000 34,960 $ 118,810 March 25 Total 170 $ 14,450 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 190 $ 15,200 # of units sold Average Cost per Unit Cost of Goods Sold # of units in ending inventory Average Cost per Ending Inventory unit Beginning inventory Purchases: March 5 March 18 March 25 Total 490 300 380 1,360 41,650 27,000 34,960 $ 118,810 $ 0 d) Specific Identification Cost of Goods Available for Sale Cost of Goods Sold Ending Inventory # of units Cost per unit Cost of Goods # of units Available I sold for Sale $ 15,200 Cost per unit Cost of Goods Sold # of units in ending inventory Cost per unit Ending Inventory 190 $ 80.00 $ 80.00 $ 0 $ 80.00 $ Beginning inventory Purchases: March 5 March 18 490 300 380 1,360 $ $ $ 41,650 27,000 85.00 90.00 92.00 $ 85.00 $ 90.00 $ 92. 000 $ | $ $ 85.00 90.00 92.00 34,960 March 25 Total $ 118,810