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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
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 Beginning inventory Units Acquired at Cost Units Sold at Retail @ $65 per 175 units Mar. 1 unit e $70 per Mar. 5 Purchase 475 units unit e $100 per Mar. 9 Sales 495 units unit e $75 per Mar.18 Purchase 270 units unit e $77 per 350 units Mar. 25 Purchase unit e $110 per 310 units Mar. 29 Sales unit 1,270 units 805 units Totals For specific identification, the March 9 sale consisted of 80 units from beginning inventory and 415 units from the March 5 purchase; the March 29 sale consisted of 115 units from the March 18 purchase and 195 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 Weighted Specific Average Periodic FIFO Id LIFO Compute the cost assigned to ending inventory using weighted average. (Round your average cost per unit to 2 decimal places.) Cost of Goods Available for Sale c) Average Cost Cost of Goods Sold Ending Inventory Average Cost of Cost of of Average units in Cost Ending ending inventory unit Average Goods # of # of units Cost Goods Sold Cost units Available sold Invento per Unit per per unit for Sale Beginning inventory Purchases March 5 March 18 March 25 Total
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