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show work Required Information The following information applies to the questions displayed below.) Warnerwoods Company uses a perpetual inventory system. It entered into the following
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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 sales transactions for March Units Sold at Retail Units Acquired at Cost 200 units @ $53.00 per unit 275 units e $50.00 per unit 360 units $88.00 per unit Date Activities Mar 1 Beginning inventory Mar. S Purchase Mar. 9 Sales Mar. 18 Purchase Mar. 25 Purchase Mar. 29 Sales Totals 135 units @ $63.00 per unit 250 units @ $65.00 per unit 230 units @ $98.00 per unit 590 units 860 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 115 units from beginning Inventory and 245 units from the March 5 purchase; the March 29 sale consisted of 95 units from the March 18 purchase and 135 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 #of Cost per Date units unit March 1 March 5 275| @ $ 58.00 Cost of Goods Sold # of units sold unit Cost per cost of Goods Sold Inventory Balance Cost per # of units unit Inventory Balance 200 @ $ 53.00 - $ 10,600.00 200 @ $ 53.00 = $ 10,600.00 275 $ 58,00 = 15,950.00 475 @ $ 26,550.00 Average March 9 360 @ March 18 136 @ $ 63.00 0 $ 63,00 Average 0 March 25 250 @ $65.00 $ 65.00 0 March 29 Totals 0.00 Step by Step Solution
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