! Required information (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 Units Acquired at Cost 230 units @ $53.60 per unit 290 units $58.60 per unit Date March 1 March 5 March 9 March 18 March 25 March 29 Activities Beginning inventory Purchase Sales Purchase Purchase Sales 390 units @ $88.60 per unit 150 units 280 units @ $63.60 per unit @ $65.60 per unit 260 units @ $98.60 per unit 650 units Totals 950 units 3. Compute the cost assigned to ending inventory using (a) FIFO, (b) LIFO, (C) weighted average, and (d) specific identification. For specific identification, units sold include 130 units from beginning inventory, 260 units from the March 5 purchase, 110 units from the March 18 purchase, and 150 units from the March 25 purchase. Complete this question by entering your answers in the tabs below. Perpetual FIFO Perpetual LIFO Weighted Average Specific Id Compute the cost assigned to ending inventory using FIFO. Goods Purchased Perpetual FIFO: Cost of Goods Sold Cost per unit Cost of Goods Sold Date # of units Cost per unit # of units sold Inventory Balance Cost Inventory # of units per unit Balance 230 at $53.60 $ 12,328.00 March 1 March 5 Total March 5 March 9 Total March 9 March 18 Total March 18 March 25 Total March 25 March 29 Total March 29 Totals Perpetual FIFO Perpetual LIFO > Complete this question by entering your answers in the tabs below. Perpetual FIFO Perpetual LIFO Weighted Average Specific Id Compute the cost assigned to ending inventory using LIFO. Perpetual LIFO: Cost of Goods Sold Cost per unit Cost of Goods Sold Goods Purchased Cost # of units Date # of units sold Inventory Balance Cost Inventory # of units per unit Balance 230 at $53.60 = $ 12,328.00 per unit March 1 March 5 Total March 5 March 9 Total March 9 March 18 Total March 18 March 25 Total March 25 March 29 Total March 29 Totals Complete this question by entering your answers in the tabs below. Perpetual FIFO Perpetual LIFO Weighted Average Specific Id Compute the cost assigned to ending inventory using weighted average. (Round your average cost per unit to 2 decimal places.) Weighted Average Perpetual: Cost of Goods Sold Cost per unit Cost of Goods Sold Goods Purchased Cost # of units Date # of units sold # of units Inventory Balance Cost per unit Inventory Balance $ 53.60 = $ 12,328.00 per unit March 1 230 at March 5 Average March 5 March 9 March 18 Average March 18 March 25 Average March 25 March 29 Totals Complete this question by entering your answers in the tabs below. Perpetual FIFO Perpetual LIFO Weighted Average Specific Id Compute the cost assigned to ending inventory using specific identification. For specific identification, units sold include 130 units from beg units from the March 5 purchase, 110 units from the March 18 purchase, and 150 units from the March 25 purchase. Ending Inventory Specific Identification Goods Available for Sale Cost of Goods Sold Cost per Cost of Goods # of units Cost of # of units unit Available for sold unit Sale Goods Sold Date Cost per # of units in ending inventory Cost per unit Ending Inventory March 1 March 5 March 18 March 25 Total
