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 Unita Sold at Retail Date March 1 March 5 March 9 March 10 March 25 March 29 Activities Beginning inventory Purchase Sales Purchase Purchase Sales Totals Units Acquired at Cost 160 units $52.20 per unit 255 units $57.20 per unit 115 units $62.20 per unit 210 units $64.20 per unit 320 units e $87.20 per unit 740 units 190 units . $97.20 per unit 510 unito 3. Compute the cost assigned to ending inventory using (6) FIFO.(6) LIFO. (weighted average, and (d) specific identification. For specific identification, units sold include 95 units from beginning inventory, 225 units from the March 5 purchase, 75 units from the March 18 purchase, and 115 units from the March 25 purchase. Perpetual FIFO Perpetual LIFO Weighted Average Specific Id Compute the cost assigned to ending Inventory using FIFO. Perpetual FIFO: Goods Purchased Cost of Goods Sold Date # of units # of units Cost per unit sold unit Cost of Goods Sold March 1 Cost per Inventory Balance Cost per # of units Inventory unit Balance 160 at $52.20 - $ 8,352.00 255 at $ 5720 March 5 Total March 5 1601 at 255 at $ 5220 $ 5720 $ 8,352.00 14,586.00 $ 22,938.00 at 160 at March 9 Total March 9 $ 5220 $ 5720 $ at 0.00 9.152 00 9.152.00 $ 52.20 $ 57 20 at $ 115 at $ 6220 at March 18 at at $ 52.20 $57.20 $62 20 Total March 18 210 at $ 64.20 at March 25 $ 52.20 $ 5720 $ 62.20 $ 64.20 at at Total March 25 March 20 Total March 29 Totals S 9,152.00 Partu FIFO Perpetual LIFO > Weighted Perpetual FIFO Perpetual LIFO Specific Id Average Compute the cos assigned to ending Inventory using LIFO. Perpetual LIFO Goods Purchased Cost of Goods Sold Date # of units Cost per # of units Cost per Cost of Goods Sold unit sold unit March 1 Inventory Balance Cost per Inventory # of units unit Balance 160 at $ 52 20 = $ 8,352.00 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 $ 0.00 Perpetual FIFO Weighted Average Weighted Perpetual FIFO Perpetual LIFO Average Specific id Compute the cost assigned to ending Inventory using weighted average. (Round your average cost per unit to 2 decimal places.) Welghted Average Perpetual: Goods Purchased Cost of Goods Sold Inventory Balance Date Cost per of units # of units unit Cost per sold Cost per unit Cost of Goods Sold # of units unit Inventory Balance March 1 160 at $ 52 20 - $ 8,352.00 March 5 Average March 5 March March 18 Average March 18 March 25 Average March 25 March 29 Total 0.00 Perpetual FIFO Perpetual UFO Weighted Average Specific 10 Compute the cost assigned to ending inventory using specific identification. For specific identification, units sold include 95 units from beginning inventory, 225 units from the March 5 purchase, 75 units from the March 18 purchase, and 115 units from the March 25 purchase. Specific Identification Goods Available for Sale Cont of Goods Sold Ending Inventory Data Cost per Cost of Goods of units of units Cost per W of units Cost of Available for unit Cost per Ending Sale sold In anding unit Goods Sold Inventory Inventory March 1 5 0 $ 0.00 $ 0 0.00 5 0 March 5 0.00 0 0.00 March 10 0 0.00 0 0.00 March 25 0 Total 0 $ 0 0 $ $ $ 0 0 0 0.00 0 0 0
