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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 and
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 March 1 Beginning inventory 110 unito e $51.20 per unit March Purchase 230 units $56.20 per unit March Sales 270 units $86.20 per unit March 18 Purchase 90 units @ $61.20 per unit Purchase 160 units $63.20 per unit Sales 140 units. 696.20 per unit Totals 590 units 410 units March 25 March 29 3. Compute the cost assigned to ending inventory using (4) FIFO. (6) LIFO. () weighted average, and (c) specific identification. For specific identification, units sold include 70 units from beginning inventory, 200 units from the March 5 purchase, 50 units from the March 18 purchase, and 90 units from the March 25 purchase. n3 of 4 Complete this question by entering your answers in the tabs below. Weighted Perpetual FIFO Perpetual LIFO Average Specific id Compute the cost assigned to ending inventory using specific identification. For specific identification, units sold include 70 units from beginning inver units from the March 5 purchase, 50 units from the March 18 purchase, and 90 units from the March 25 purchase Specific Identification Goods Available for Sale Cost of Goods Sold Ending Inventory Cost of Goods Ending Available in ending Inventory Date # of units # of units Cost per unit w of units sold Cost per unit Cost of Goods Sold Cost per unit March March March 18 March 25 Yotsi 110$ 51.20 S 230 5620 90 6120 503 61 203 480 For Sale 5,632 12,926 5,508 3,060 27,126 70 $ 51.20 200 56.20 50 61.20 90 51.20 410 $ 3,584 11,240 3,060 5.500 $ 23,392 inventory 110 230 90 @O $ 51.20 58,20 61,20 81,20 5.632 12,926 5,508 0 $ 24.066 Total March 18 160 at 63.20 40 X at $ 2,048.00 30 at 1,686.00 March 25 $ 51.20 $ 56.20 $ 61.20 $ 63.20 90 at E 5,508.00 160 at Total March 25 10.112.00 $ 19,354.00 11 $ 3,584,00 $ 2,048.00 70 at 200 at = = = 11,240.00 $ 51.20 $ 56.20 $ 61 20 $ 63.20 March 29 40 at 30 at 40 at 70 at $ 51.20 $ 56.20 $ 61.20 S 63.20 - = = 50 at 1.686.00 2,448.00 11 3,060.00 90 at = 5,688.00 Total March 29 $ 23,572.00 4,424.00 $ 10.606.00 $ 10,606,00 Totals $ 38,396.00 Perpetual FIFO Perpetual LIFO >
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