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 220 units@ $53.40 per unit Mar. 5 Purchase 285 units @ $58.40 per unit Mar. 9 Sales 380 units @ $88.40 per unit Mar. 18 Purchase 145 units@ $63.40 per unit Mar. 25 Purchase 270 units @ $65.40 per unit Mar. 29 Sales 250 units@ $98.40 per unit Totals 920 units 630 units Required: 1. Compute cost of goods available for sale and the number of units available for sale. Cost of Goods Available for Sale Cost per Cost of Goods # of units Unit Available for Sale Beginning inventory Purchases: March 5 March 18 March 25 Total 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 Units sold at Retail Date Activities Mar. 1 Beginning inventory Mar. 5 Purchase Mar. 9 Sales Mar. 18 Purchase Mar. 25 Purchase Mar. 29 Sales Totals Units Acquired at Cost 220 units@ $53.40 per unit 285 units@ $58.40 per unit 145 units @ $63.40 per unit 270 units@ $65.40 per unit 380 units @ $88.48 per unit 920 units 250 units@ $98.40 per unit 630 units 2. Compute the number of units in ending Inventory Ending Inventory units 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 Units Sold at Retail Date Activities Mar. 1 Beginning inventory Mar. 5 Purchase Mar. 9 Sales Mar. 18 Purchase Mar. 25 Purchase Mar. 29 Sales Totals Units Acquired at Cost 220 units @ $53.40 per unit 285 units $58.40 per unit 145 units@ $63.40 per unit 270 units $65.40 per unit 388 units $88.40 per unit 250 units $98.40 per unit 630 units 920 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 125 units from beginning Inventory and 255 units from the March 5 purchase; the March 29 sale consisted of 105 units from the March 18 purchase and 145 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. Perpetual FIFO: Goods Purchased # of Cost per units Inventory Balance Cost per Inventory of units unit Balance 220 $53.40 = $ 11,748.00 # of units sold Cost of Goods Sold Cost per cost of Goods Sold unit Date March 1 March 5 Perpetual FIFO: Cost of Goods Sold Goods Purchased #of Cost per units unit Date # of units sold Cost per Cost of Goods Sold unit Inventory Balance Cost per # of units Inventory unit Balance 220 @ $ 53.40 = $ 11,748.00 March 1 March 5 March 9 March 18 March 25 March 29 Totals Required information 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 #of Date Cost per # of units Cost per units unit sold unit Cost of Goods Sold March 1 Inventory Balance Inventory # of units unit Balance 220 $53.40 - $ 11,748.00 Cost per March 5 March 9 March 18 March 25 March 29 S we Navt 3. Compute the cost assigned to ending inventory using (0) FIFO. (6) LIFO. (c) weighted average, and (d) specific identification. For specific identification, the March 9 sale consisted of 125 units from beginning inventory and 255 units from the March 5 purchase the March 29 sale consisted of 105 units from the March 18 purchase and 145 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 weighted average. (Round your average cost per unit to 2 decimal places.) Weighted Average Perpetual: Goods Purchased Cost of Goods Sold Inventory Balance # of Cost per # of units Cost per Cost per Dato of units Cost of Goods Sold Inventory Balance unit units unit unit 220 March 1 $ $53.40 = 11.748.00 sold March 5 Averago March 9 March 18 Average March 25 March 29 Totals Required information Specific Identification: Goods Purchased # of Cost per Dato units unit March 1 Cost of Goods Sold # of units Cost per Cost of Goods sold unit Sold Inventory Balance Cost per # of units Inventory Balance unit 220 $ 53.40 s 11,748.00 March 5 March 9 March 18 March 25 March 29 Totals S
