[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. Compute the cost assigned to ending inventory using (a). FIFO, (b) LIFO, (c) weighted average, and (d) specific identification. For pecific identification, units sold include 120 units from beginning inventory, 250 units from the March 5 purchase, 100 units from the arch 18 purchase, and 140 units from the March 25 purchase. \begin{tabular}{|c|c|c|c|c|c|c|c|c|c|c|c|c|c|c|} \hline \multicolumn{15}{|c|}{ Perpetual FIFO: } \\ \hline \multirow[b]{3}{*}{ March 1} & \multicolumn{3}{|c|}{ Goods Purchased } & \multicolumn{6}{|c|}{ Cost of Goods Sold } & \multicolumn{5}{|c|}{ Inventory Balance } \\ \hline & \multicolumn{2}{|c|}{ \# of units } & \multirow[t]{2}{*}{\begin{tabular}{c} Cost per \\ unit \end{tabular}} & \multicolumn{2}{|c|}{\begin{tabular}{l} \# of units \\ sold \end{tabular}} & \multirow[t]{2}{*}{\begin{tabular}{c} Cost per \\ unit \end{tabular}} & \multicolumn{3}{|c|}{ Cost of Goods Sold } & \multicolumn{2}{|c|}{ \# of units } & \multirow{2}{*}{\begin{tabular}{c} \begin{tabular}{c} Cost per \\ unit \end{tabular} \\ $53.20 \end{tabular}} & \multicolumn{2}{|r|}{\begin{tabular}{r} Inventory \\ Balance \end{tabular}} \\ \hline & & & & & & & & & & 210 & at & & = & \$ 11,172.00 \\ \hline \multirow{2}{*}{ March 5} & 280 & at & $58.20 & & & & & & & 210 & at & $53.20 & = & \$ 11,172.00 \\ \hline & & & & & & & & & & 280 & at & $58.20 & = & 16,296.00 \\ \hline Total March 5 & & & & & & & & & & & & & & $27,468.00 \\ \hline \multirow{2}{*}{ March 9} & & & & 210 & at & $53.20 & = & S & 11,172.00 & 53.20 & at & $53.20 & = & $2,830.24 \\ \hline & & & & 160 & at & $58.20 & = & & 9,312.00 & 58.20 & at & $58.20 & = & 3,387.24 \\ \hline Total March 9 & & & & & & & & & 20,484.00 & & & & & \begin{tabular}{ll} S & 6,217.48 \end{tabular} \\ \hline \multirow{3}{*}{ March 18} & 140 & at & $63.20 & & & & & & & 53.20 & at & $53.20 & = & \$ 2,830.24 \\ \hline & & & & & & & & & & 58.20 & at & $58.20 & = & 3,387.24 \\ \hline & & & & & & & & & & 63.20 & at & $63.20 & = & 3,994.24 \\ \hline Total March 18 & & & & & & & & & & & & & & \$ 10,211.72 \\ \hline \multirow{4}{*}{ March 25} & 260 & at & $65.20 & & & & & & & 53.20 & at & $53.20 & = & \$ 2,830.24 \\ \hline & & & & & & & & & & 58.20 & at & $58.20 & = & 3,387.24 \\ \hline & & & & & & & & & & 63.20 & at & $63.20 & = & 3,994.24 \\ \hline & & & & & & & & & & 65.20 & at & $65.20 & = & 4,251.04 \\ \hline Total March 25 & & & & & & & & & & & & & & \$ 14,462.76 \\ \hline \multirow{4}{*}{ March 29} & & & & 120 & at & $53.20 & = & S & 6,384.00 & & at & $53.20 & & \\ \hline & & & & 120 & at & $58.20 & = & & 6,984.00 & & at & $58.20 & & \\ \hline & & & & & at & $63.20 & = & & 0.00 & 20 & at & $63.20 & = & 1,264.00 \\ \hline & & & & & at & $65.20 & = & & 0.00 & 260 & at & $65.20 & = & 16,952.00 \\ \hline Total March 29 & & & & & & & & s & 13,368.00 & & & & & $18,216.00 \\ \hline Totals & & & & & & & & S & 33,852.00 & & & & & \$ 18,216.00 \\ \hline \end{tabular} At the beginning of the year, Snaplt had $12,200 of inventory. During the year, Snaplt purchased $39,400 of merchandise and sold $33,300 of merchandise. A physical count of inventory at year-end shows $13,200 of inventory exists. Prepare the entry to record inventory shrinkage. Required information [The following information applies to the questions displayed below.] Allied Merchandisers was organized on May 1. Macy Company is a major customer (buyer) of Allied (seller) products. May 3 Allied made its first and only purchase of inventory for the period on May 3 for 2,000 units at a price of $8 cash per unit (for a total cost of $16,000 ). May 5 Allied sold 1,000 of the units in inventory for $12 per unit (invoice total: $12,000 ) to Macy Company under credit terms 2/10,n/60. The goods cost Allied $8,000. May 7 Macy returns 100 units because they did not fit the customer's needs (invoice amount: $1,200 ). Allied restores the units, which cost $800, to its inventory. May 8 Macy discovers that 100 units are scuffed but are still of use and, therefore, keeps the units. Allied gives a price reduction (allowance) and credits Macy's accounts receivable for $400 to compensate for the damage. May 15 Allied receives payment from Macy for the amount owed on the May 5 purchase; payment is net of returns, allowances, and any cash discount. repare the appropriate journal entries for Macy Company to record each of the May transactions. Macy is a retailer that uses th ross method and a perpetual inventory system; it purchases these units for resale. lote: If no entry is required for a transaction/event, select "No journal entry required" in the first account field. [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. 3. Compute the cost assigned to ending inventory using (a) FFO, (b)LFO, (c) weighted average, and (c) specific identification. For specific identification, units sold include 120 units from beginning inventory, 250 units from the March 5 purchase, 100 units from the March 18 purchase, and 140 units from the March 25 purchase