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[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

[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 150 units @ $52.00 per unit
March 5 Purchase 250 units @ $57.00 per unit
March 9 Sales 310 units @ $87.00 per unit
March 18 Purchase 110 units @ $62.00 per unit
March 25 Purchase 200 units @ $64.00 per unit
March 29 Sales 180 units @ $97.00 per unit
Totals 710 units 490 units

3. Compute the cost assigned to ending inventory using (a) FIFO, (b) LIFO, (c) weighted average, and (d) specific identification. For specific identification, units sold include 90 units from beginning inventory, 220 units from the March 5 purchase, 70 units from the March 18 purchase, and 110 units from the March 25 purchase.

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3. Compute the cost assigned to ending inventory using (a) FIFO, (b) LIFO, (c) weighted average, and (d) specific identification. For specific identification, units sold include 90 units from beginning inventory, 220 units from the March 5 purchase, 70 units from the March 18 purchase, and 110 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 specific identification. For specific identification, units sold include 90 units from beginning inventory, 220 units from the March 5 purchase, 70 units from the March 18 purchase, and 110 units from the March 25 purchase. Specific Identification Goods Available for Sale Cost of Goods Sold Ending Inventory Date Cost per unit # of units in ending inventory Cost per unit $ March 1 March 5 March 18 March 25 Total # of units 0 Cost of Goods Available for Sale $ 0 0 0 $ 0 # of units # of units Cost per sold unit $ 0 0 0 Ending Inventory 0.00 $ 0.00 0.00 0.00 $ 0 0 0 0 0

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