Saved Required information Problem 6-2AA Periodic: Alternative cost flows LO P3 [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 Units sold at Retail Units Acquired at Cost 110 units $45 per unit 410 units $50 per unit 430 units $80 per unit Date Activities Mar. 1 Beginning inventory Mar. 5 Purchase Mar. 9 Sales Mar. 18 Purchase Mar. 25 Purchase Mar. 29 Sales Totals 140 unitse $55 per unit 220 units $57 per unit 180 unitse $90 per unit 610 units 880 units For specific identification, the March 9 sale consisted of 60 units from beginning inventory and 370 units from the March 5 purchase the March 29 sale consisted of 50 units from the March 18 purchase and 130 units from the March 25 purchase. Problem 6-2AA Part 1 Required. 1. Compute cost of goods available for sale and the number of units available for sale. Cost of Goods Available for Sale of Units Cost per Cost of Goods Unit Available for Sale Beginning inventory Purchases: March 5 March 18 March 25 Total Required information Problem 6-2AA Periodic: Alternative cost flows LO P3 (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 Units sold at Retail Mar. Mar. Mr. tivities 1 Beginning inventory Purchase Sales Units Aequired at Cost 110 nits $45 per unit 410 unitat 550 per unit 430 units $80 per unit 140 units 220 units 555 per unit 557 per unit $90 per unit Mar. 29 Sales Totals 100 units 610 units 880 units For specific identification, the March 9 sale consisted of 60 units from beginning inventory and 370 units from the March 5 purchase, the March 29 sale consisted of 50 units from the March 18 purchase and 130 units from the March 25 purchase. Problem 6-2AA Part 2 2. Compute the number of units in ending inventory Ending inventory 6 7 8 8 Next wanacions Tot Maren Date Activities Units Aequired at Cost Units Sold at Retail Mar. 1 beginning inventory 110 units 110 units unit 545 per Mar. 5 Purchase 410 units unit 410 units. $50 per mar. 9 Sales 430 units 580 per na unit Mar.18 Purchase 140 unita $55 per 140 units unit .220 unit $57 per Mar.25 Purchase .220 units unit 180 units $90 per Mar .29 Sales Totals 880 units unit 610 units For specific identification, the March 9 sale consisted of 60 units from beginning inventory and 370 units from the March 5 purchase, the March 29 sale consisted of 50 units from the March 18 purchase and 130 units from the March 25 purchase Problem 6-2AA Part 3 2. Compute the cost assigned to ending inventory using FIFO. DLIFO, weighted average, and Identification (Round your average cost per un to 2 decimal places) specific a) Periodic FIFO Ending Inventory cost of Goods Available for Sale Cost of Goods Sold Cost of of Cost Goods units per unit Available units i of cost Cost of of units ending Cost Ending for Sale solo per unit Goods in ending n ending Cost Ending Sold inventory per unit Inventory $ 0.00 S ol $ 0.00 $ S 0000 $ $ 0.00 0.00 label cost of Goods Sold Ending Inventory of Cost Geode u prava in ending wentory Ending inventory of Average of units Average Avatatlanite Couto od pune Goodanding Cost Ending Inventory $ 0.00 Total b) Periodic LIFO Cost of Goods Available e Cost of Goods Sold Ending Inventory Cost of Cost # of Cost Goods Cost of of units Cost Ending units per unit Available units Sold Inventory per unit Inventor of of unite for Sale sold per unit Goods in ending sold Per unit Beginning inventory March 5 March 18 March 25 Total c) Average Cost Cost of Goods Available for Sale Cost of Goods Sold Ending Inventory Goods # of Average cost units Cost Available units wel of of units Average Cost i n ending per unit Available ending Cost Cost Ending Ending for Sale sold per Unit Goods Sold inventory per unit Inventory of Average cost of Beginning inventory Purchases March 5 March 18 March 25 Total d) Specific loentication cost of Goods Available for Sale Cost of Goods Sold Ending Inventory Cost of . of Cost Goods of Cost of nits per unit Available units of units Cost Ending for Sale sold per unit Good In ending Sold inventory per unit Inventory esc -0- Required information Problem 6-2AA Periodic: Alternative cost flows LO P3 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 Acquired at Cost e $45 per Units Sold at Retail Mar. Beginning 110 units unit inventory Mar. 5 Purchase 410 units. $50 per unit Mar. 9 Sales 430 units. $BO per tunit Mar. 18 Purchase 140 units $55 per unit $57 per Mar.25 Purchase 220 units unit Mar. 29 Sales 180 units $90 per unit 610 units Totals 880 units For specific identification, the March 9 sale consisted of 60 units from beginning inventory and 370 units from the March 5 purchase, the March 29 sale consisted of 50 units from the March 18 purchase and 130 units from the March 25 purchase. Problem 6-2AA Part 4 4. Compute gross profit earned by the company for each of the four costing methods. (Round your average cost per unit to 2 decimal places and final answers to nearest whole dollar.) FIFO LIFO Weighted Specific Average Identification Sales LOSS: Cost of goods sold Gross profit O $ 0