(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 Activities Beginning inventory Units Acquired at Cost 120 units @ $51.40 per unit 235 units @ $56.40 per unit Date March 1 March 5 March 9 March 18 March 25 March 29 280 units @ $86.40 per unit Purchase Sales Purchase Purchase Sales 95 units @ $61.40 per unit 170 units @ $63.40 per unit 150 units @ $96.40 per unit 430 units 54:43 Totals 620 units 3. Compute the cost assigned to ending inventory using () FIFO (6) LIFO ( Weighted average, and (c) specific identification. For specific identification, units sold include 75 units from beginning inventory, 205 units from the March 5 purchase. 55 units from the March 18 purchase, and 95 units from the March 25 purchase Complete this question by entering your answers in the tabs below. Perpetual Fifo Perpetual LIFO Weighted Average Specific to Compute the cost assigned to ending inventory using Firo. Perpetual FIFO, Cost of Goods Sold Goods Purchased Date Costpor Wot units W of units sold Cost per unit Cost of Goods Sold Inventory Balance Cost per Inventory # of units unit Balance 120 $5100 36 168.00 unit March 1 Me Graw Hill (Prey 6 of 6 Next Goods Purchased Cost of Goods Sold Date Cost per # of units sold Cost pet Cost of Goods Sold Inventory Balance Cost per Inventory Hol units unit Balance 120 at 55140 $ 6,168 00 of units unit unit Part 3 of 3 March 1 March 5 8 00:53:40 To March 5 March Total Much 9 Mach 18 Tot Mach 18 March 25 To ach25 uch Tech2 6 March 5 Total March 5 Part 3 013 March 9 Tot March 9 20052 March 18 Total March 18 March 25 Total March 25 Much 20 Toe Mee 20 Tous 000 Perpetual LIFO > Perpetual LIFO Cost of Goods Sold of units Cost per Cost of Goods Sold sold unit Goods Purchased Cost per of units unit Part 3 013 Cost per Inventory Balance of units Inventary Balance unit $5140 56168.00 March 1 120 8 00:52:41 March 5 Total March 5 March Tot March March 18 Total March 18 March 25 Toarch March 2 6 Total March 9 March 18 Part 3 of 3 Total March 18 2 00:52:26 March 25 Total March 25 March 29 Total March 20 Totals 0.00 Weighted Average Perpetual Cost of Goods Sold Inventory Balance Inventory Balance Goods Purchased Cost per # of units of units unit sold Cost per Part 303 Date Cost per unit Cost of Goods Sold of units urut 120 a $ 51.405 6.168.00 March 1 800158 March Average Much 5 March March 18 Average March 18 March Average March Macho Total 000 Pepe LIFO Specific d> nase. Specific Identification Cost of Goods Available for Sale Cost of Goods Sold Cost per # of units Cost of Goods Available for Sale of units Cost per sold unit Inventory Balance of units Ending in ending unit Inventory inventory Cost of Goods Sold unit Cost per Purchases March 2 $ 0 $ 0 $ 0.00 $ 0 March 5 0 0.00 $ 0.00 0.00 0.00 March 18 0 0 March 25 0.00 0.00 0 ol 0 ol 0 Total $ 0 0 S 5 Weighted Average
