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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

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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 Date Activities Units Aequired at Cost Units sold at Retail Mar. 1 Beginning inventory 130 unitse $65 per unit Mar. 5 Purchase 430 unitse $70 per unit Mar. 9 Sales 450 units. $100 per unit Mar. 18 Purchase 180 units $75 per unit Mar. 25 Purchase 260 unitse $77 per unit Mar. 29 Sales 220 units. 5110 per unit Totale 1,000 units 670 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 (0) FIFO. (b) LIFO. (c) weighted average, and (d) specific identification, (Round your "average cost per unit" to 2 decimal places.) a) Periodic FIFO Cost of Goods Sold Ending Inventory Cost of Goods Available for Sale Cost of Goods Cost per # of units unit Available for Sale 130 $ 65,00 $ 8,450 # of units Cost per unit Cost of Goods Sold # of units in ending Inventory Cost per unit Ending Inventory sold 65 $ 65.00 $4,225 $ 0.00 $ 0 0 Beginning inventory Purchases March 5 March 18 March 25 Total $ $ 0.00 0.00 430 $ 70.00 180 $ 75.00 260 $ 77.00 1,000 30,100 13,500 20,020 $ 72,070 380 $ 70.00 70 $ 75,00 150 $ 77.00 665 26,600 5.250 11,550 $ 47,625 0 0 $ 0.00 0 Ending Inventory Cost of Goods Sold b) Periodic LIFO Cost of Goods Available for Sale Cost of Cost of of units Cost per #of units in ending Cost per Ending antoty 3 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 Part 4 3. Compute the cost assigned to ending inventory wing (w/FIFO,/b/LIFO,/c/weighted average, and to specific identification (Round your "average cost per unit to 2 decimal places) 10 Periodo Coute Cost of Goods Artable to Cost of ofta Coper Goods Arali for Sale 101 s 05.00 S 8.450 e Coul Cou Goode Couper endine Ending very 05 65.00 $ 4.205 $ 0.005 o 20.000 P Beginning Purchases Mich 5 March March 25 Total 601 S 70.00 0.100 1 s 15.00 13.500 200 77.00 20.600 1000 522.000 0.00 0.00 S80 S7000 70 $ 7.00 150 17.00 085 5 5 $ 11. 47.625 0 Par LIFO Ending Cost of Good See Center Cou Good soft Cost per unt wold for Sale 130 $ 6500 S 8.4501 Cooper donde oft Cooler Fonica eng ry Ending ry $ C Beginning inney Purchases March March 18 March 25 To 130 $ 70,00 160 $ 7500 200 $ 7700 1000 30.1001 13.500 20.020 $72070 Engine Avrou Cout Cost of Good Solid Coute Cost per Goods Coat of Goode Ara for Sale Cost Avenge Goods of units Cost per A for Sale 130 SR450 Average Costa of ending mary of Arnage Une Ending Inventory Borring inventory M March 10 March 25 40 30.100 13.500 200 20.000 s. 7700 3.72010 47.970 Cestes Cost Cout Goode Bo ing Cest per Cost Oos Avat Cost of of Coupe Good for Sale $65.00 5.450 End ventory 5500 5 $500 5 Begge

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