Required information (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 cont 130 units 365 per unit 430 units $70 per unit 450 unitse $100 per unit Date Activities Mar. 1 Beginning inventory Mar. 5 Purchase Mar. 9 Sales Mar. 18 Purchase Mar. 25 Purchase Mar. 29 Sales Totals 180 units @ $75 per unit 260 units @ $77 per unit 220 unitse $110 per unit 1,000 units For specific identification, the March 9 sale consisted of 70 units from beginning inventory and 380 units from the March 5 purchase; the March 29 sale consisted of 70 units from the March 18 purchase and 150 units from the March 25 purchase. 3. Compute the cost assigned to ending inventory using (a) FIFO. (b) LIFO. (c) weighted average, and (d) specific identification. Complete this question by entering your answers in the tabs below. Periodic FIFO Periodic LIFO IFO Weighted Average Specific id Compute the cost assigned to ending Inventory using FIFO. a) Periodic FIFO Cost of Goods Available for Sale Cost of Goods Sold Ending Inventory 3. Compute the cost assigned to ending inventory using (a) FIFO, (b) LIFO. (c) weighted average, and (d) specific identification. Complete this question by entering your answers in the tabs below. Periodic FIFO Periodic LIFO Weighted Average Specific Id Compute the cost assigned to ending inventory using FIFO. a) Periodic FIFO Cost of Goods Available for Sale is Sold E nding Inventory # of units o per unit Cost of Goods Available for Sale of units sold Cost pe unit Cost of # of units Goodsin ending Sold Inventory Cost per unit Ending Inventory Beginning inventory Purchases: March 5 March 18 March 25 Total Periodic Lite > 3. Compute the cost assigned to ending inventory using (a) FIFO, (b) LIFO, (c) weighted average, and (d) specific identification Complete this question by entering your answers in the tabs below. Periodic FIFO Periodic LIFO Weighted Average Specific Id Compute the cost assigned to ending Inventory using LIFO. b) Periodic LIFO Cost of Goods Sold Ending Inventory Cost of Goods Available for Sale Cost of # of units Cost per Goods unit Available for Sale # of units sold Cost per unit Cost of Goods Sold # of units in ending Inventory Cost per unit Ending Inventory Beginning inventory Purchases: March 5 March 18 March 25 Total 26 ( Periodic FIFO Weighted Average > For OPE C OUIT, MIC FIDICE LUDEU VII U HVIT Veyirly Hivernuly diu JOU UIS ITU U march purchase; the March 29 sale consisted of 70 units from the March 18 purchase and 150 units from the March 25 purchase. 3. Compute the cost assigned to ending inventory using (a) FIFO, (b) LIFO, (c) weighted average, and (d) specific identification. Complete this question by entering your answers in the tabs below. Periodic FIFO Periodic 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.) c) Average Cost Cost of Goods Sold Ending Inventory Cost of Goods Available for Sale Cost of Average Goods # of units Cost per Available Average Cost per Average or units sold Cost of Goods Sold # of units in ending Inventory Ending Inventory unit for Sale Unit unit Beginning inventory Purchases: March 5 March 18 March 25 Total ( Periodic LIFO Specific ld > Periodic FIFO Periodic LIFO Weighted Average Specific Id Compute the cost assigned to ending Inventory using specific identification. d) Specific Identification Cost of Goods Available for Sale Cost of Goods Sold Ending Inventory # of units Cost per cos unit Cost of Goods Available for Sale # of units sold Cost per unit Cost of Goods Sold # of units in ending Inventory Cost per unit Ending Inventory Beginning inventory Purchases: March 5 March 18 March 25 Total
