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Required information [The following information applies to the questions alsplayed below.] Warnerwoods Company uses a perlodic Inventory system. It entered Into the following purchases and
Required information [The following information applies to the questions alsplayed below.] Warnerwoods Company uses a perlodic Inventory system. It entered Into the following purchases and sales transactions for March. For specific Identlfication, unlts sold Include 70 units from beginning Inventory, 450 units from the March 5 purchase, 140 units from the March 18 purchase, and 220 units from the March 25 purchase. Compute the cost assigned to ending Inventory using (a) FIFO, (b) LIFO, (c) weighted average, and (d) speclfic IdentIfication. lote: Round your "average cost per unit" to 2 decimal places. 3. Compute the cost assigned to ending Inventory using (o) FIFO, (b) LIFO, (c) weighted average, and (d) speclfic Identlfication. Note: Round your "average cost per unit" to 2 decimal places. a) Periodic FIFO \begin{tabular}{|c|c|c|c|c|c|c|c|c|c|c|c|c|} \hline \multirow[b]{3}{*}{ Beginning inventory } & \multicolumn{3}{|c|}{ Cost of Goods Available for Sale } & \multicolumn{4}{|c|}{ Cost of Goods Sold } & \multicolumn{5}{|c|}{ Ending Inventory } \\ \hline & \multirow{2}{*}{ \# of units } & \multirow{2}{*}{Costperunit} & \begin{tabular}{c|} Cost of \\ Goods \\ Available \\ for Sale \end{tabular} & \multirow{2}{*}{#ofunitssold} & \multicolumn{2}{|c|}{Costperunit} & CostofGoodsSold & \multirow[t]{2}{*}{#ofunitsinendinginventory} & \multicolumn{2}{|c|}{Costperunit} & \multicolumn{2}{|c|}{EndingInventory} \\ \hline & & & $ & & $ & 0.00 & $ & & 5 & 0.00 & $ & 0 \\ \hline \multicolumn{13}{|l|}{ Purchases: } \\ \hline March 5 & & & 0 & & $ & 0.00 & 0 & & & 0.00 & & 0 \\ \hline March 18 & & & 0 & & $ & 0.00 & 0 & & $ & 0.00 & & 0 \\ \hline March 25 & & & 0 & & & & 0 & & $ & 0.00 & & 0 \\ \hline Total & 0 & & & 0 & & & & 0 & & & & \\ \hline \end{tabular} b) Periodic LIFO \begin{tabular}{|c|c|c|c|c|c|c|c|c|c|} \hline & \multicolumn{3}{|c|}{ Cost of Goods Available for Sale } & \multicolumn{3}{|c|}{ Cost of Goods Sold } & \multicolumn{3}{|c|}{ Ending Inventory } \\ \hline & \# of units & Costperunit & CostofGoodsAvailableforSale & #ofunitssold & Costperunit & CostofGoodsSold & #ofunitsinendinginventory & Costperunit & EndingInventory \\ \hline Beginning inventory & & & & & & & & & $ \\ \hline \multicolumn{10}{|l|}{ Purchases: } \\ \hline March 5 & & & & & & & & & 0 \\ \hline March 18 & & & & & & & & & 0 \\ \hline March 25 & & & & & & & & & 0 \\ \hline \begin{tabular}{|l} Total \\ \end{tabular} & & & & 0 & & & 0 & & \\ \hline \end{tabular} c) Average Cost \begin{tabular}{|c|c|c|c|c|c|c|c|c|c|} \hline & \multicolumn{3}{|c|}{ Cost of Goods Available for Sale } & \multicolumn{3}{|c|}{ Cost of Goods Sold } & \multicolumn{3}{|c|}{ Ending Inventory } \\ \hline & \# of units & AverageCostperunit & CostofGoodsAvailableforSale & #ofunitssold & AverageCostperUnit & CostofGoodsSold & #ofunitsinendinginventory & AverageCostperunit & EndingInventory \\ \hline \multicolumn{10}{|l|}{ Beginning inventory } \\ \hline \multicolumn{10}{|l|}{ Purchases: } \\ \hline \multicolumn{10}{|l|}{ March 5} \\ \hline \multicolumn{10}{|l|}{ March 18} \\ \hline \multicolumn{10}{|l|}{ March 25} \\ \hline Total & & & & & & $ & & & $ \\ \hline \multicolumn{10}{|c|}{ d) Specific Identification } \\ \hline & \multicolumn{3}{|c|}{ Cost of Goods Available for Sale } & \multicolumn{3}{|c|}{ Cost of Goods Sold } & \multicolumn{3}{|c|}{ Ending Inventory } \\ \hline & \# of units & Costperunit & CostofGoodsAvailableforSale & #ofunitssold & Costperunit & CostofGoodsSold & #ofunitsinendinginventory & Costperunit & EndingInventory \\ \hline Beginning inventory & & & & & & $ & & & $ \\ \hline \multicolumn{10}{|l|}{ Purchases: } \\ \hline March 5 & & & & & & 0 & & & 0 \\ \hline March 18 & & & & & & 0 & & & 0 \\ \hline March 25 & & & & & & 0 & & & 0 \\ \hline Total & & & & 0 & & & 0 & & \\ \hline \end{tabular}
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