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Required information [The following information applies to the questions displayed below] Warnerwoods Company uses a perpetual inventory system. It entered into the following purchases
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 Sold at Retail March 1 March 5 March 9 March 18 March 25 March 29 Units Acquired at Cost Beginning inventory 250 units $54.00 per unit Purchase 300 units Sales Purchase Purchase Sales 160 units 300 units $59.00 per unit $64.00 per unit 566.00 per unit 410 units 989.00 per unit Totals 1,010 units 280 units $99.00 per unit 690 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 140 units from beginning inventory, 270 units from the March 5 purchase, 120 units from the March 18 purchase, and 160 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 Date # of units Cost per # of units unit sold Perpetual FIFO Cost of Goods Sold Cost per Cost of Goods Sold unit Cost per of units March 1 Inventory Balance unit Inventory Balance 250 at $54.00 $13.500.00 March 5 Total March 6 March 9 Total March 9 March 18 < Prev 9 10 11 Next > Perpetual FIFO Perpetual LIFO Weighted Average Specific Id Compute the cost assigned to ending inventory using LIFO, Perpetual LIFO Goods Purchased Cost of Goods Sold Date # of units Cost per unit of units sold Cost per Cost of Goods Sold unit # of units Cost per Inventory Balance Inventory unit Balance March 11 250 at $54.00 $13,500.00 March 5 Total March 51 March 9 Total March 91 March 10 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. Note: Round your average cost per unit to 2 decimal places. Inventory Balance Cost per unit Inventory Balance. 54.00 $13,500.00 Weighted Average Perpetual: Goods Purchased Cost of Goods Sold Date # of units Cost per unit # of units sold Cost per unit Cost of Goods Sold # of units March 1 250 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 14 Compute the cost assigned to ending inventory using specific identification. For specific identification, units sold include 140 units from beginning inventory, 270 units from the March 5 purchase, 120 units from the March 18 purchase, and 160 units from the March 25 purchase. Goods Available for Sale Specific Identification Cost of Goods Sold Date of units Cost per unit Cost of Goods Available for Sale of units Cost per sold unit Cost of Goods Sold of units in ending inventory Ending Inventory Cost per unit Ending Inventory March 11 March 5 March 18 March 25 Total Weighted Average Specific >
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