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.
| | Date | Activities | Units Acquired at Cost | Units Sold at Retail |
| | Mar. | 1 | | Beginning inventory | | 80 | units | @ $50.60 per unit | | | | |
| | Mar. | 5 | | Purchase | | 215 | units | @ $55.60 per unit | | | | |
| | Mar. | 9 | | Sales | | | | | | 240 | units | @ $85.60 per unit |
| | Mar. | 18 | | Purchase | | 75 | units | @ $60.60 per unit | | | | |
| | Mar. | 25 | | Purchase | | 130 | units | @ $62.60 per unit | | | | |
| | Mar. | 29 | | Sales | | | | | | 110 | units | @ $95.60 per unit |
| | | | | Totals | | 500 | units | | | 350 | units | |
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3. Compute the cost assigned to ending inventory using (a) FIFO, (b) LIFO, (c) weighted average, and (d) specific identification. For specific identification, the March 9 sale consisted of 55 units from beginning inventory and 185 units from the March 5 purchase; the March 29 sale consisted of 35 units from the March 18 purchase and 75 units from the March 25 purchase. 
Required information [The following information appliles to the questions displayed below Warnerwoods Company uses a perpetual inventory system. It entered into the following purchases and sales transactions Part 3 of 4 for March. Date Mar. 1 Beginning inventory Mar. 5 Purchase Mar. 9 Sales Mar. 18 Purchase Mar. 25 Purchase Mar. 29 Sales Activities Units Acquired at Cost 80 units $50.60 per unit 215 units $55.60 per unit Units Sold at Retail 10 points 240 units $85.60 per unit 75 units$60.60 per unit 130 units$62.60 per unit 02:54:45 110 unitse $95.60 per unit 350 units Totals 500 units 3. Compute the cost assigned to ending inventory using (a) FIFO, (b) LIFO, (c) weighted average, and (d) specific identification. For specific identification, the March 9 sale consisted of 55 units from beginning inventory and 185 units from the March 5 purchase; the March 29 sale consisted of 35 units from the March 18 purchase and 75 units from the March 25 purchase Complete this questions by entering your answers in the below tabs. WeightedSpecfic Id Average Perpetual FIFO Perpetual LIFOo Perpetual FIFO of 4 Goods Purchased Inventory Balance #of units Cost per #ofunits Cost per sold Cost of Goods Sold #of units Cost per Inve ntory Balance Date unit unit unit March1 80$50.60$4,048.00 March 5 54:27 March 9 March 18 March 25 March 29 Perpetual LIFO of 4 Goods Purchased Cost of Goods Sold Inventory Balance #of units Cost per unit # of units sold cost per unit Cost of Goods Sold Cost per Inventory Balance Date # of units unit March 1 80| @ | $50.60| = | $4,048.00 March 5 2:54:17 March 9 March 18 March 25 Required information Weighted Average Perpetual FIFO Perpetual LIFO Specific Id Part 3 of 4 Compute the cost assigned to ending inventory using weighted average. (Round your average cost per unit to 2 decimal places.) Weighted Average Perpetual: 10 points oods Purchased #of units Cost of Goods Sold Inventory Balance Cost per unit # of units sold cost per unit Cost of Goods Sold Cost per Inventory Balance Date # of units unit 02:54:11 March 1 80 50.60 4,048.00 March 5 Average March 9 March 18 Average March 25 March 29 Required information Weighted Average Perpetual FIFO Perpetual LIFO Specific Id Compute the cost assigned to ending inventory using specific identification. For specific identification, the March 9 sale consisted of 55 units fro inventory and 185 units from the March 5 purchase; the March 29 sale consisted of 35 units from the March 18 purchase and 75 units from the purchase Part 3 of 4 Specific Identification 10 oints Goods Purchased Cost of Goods Sold Inventory Balance #of units Cost per | unit # of units sold Cost per unit Cost of Goods Sold Cost per Inventory Balance Date # of units 02:54:04 unit March 1 80 50.60$4,048.00 March 5 March 9 March 18 March 25
