Warnerwoods Company uses a periodic inventory system. It entered into the following purchases and sales transactions for March. Units Sold at Retail Units Aequired at Cost 155 units $45 per unit 455 units @ $50 per unit Date Activities Mar. 1 Beginning inventory Mar. 5 Purchase Mar. 9 Sales Mar. 18 Purchase Mar. 25 Purchase Mar. 29 Sales Totals 475 units @ $80 per unit 230 units @ $55 per unit 310 units@ $57 per unit 270 units 745 units $90 per unit 1,150 units For specific identification, the March 9 sale consisted of 50 units from beginning inventory and 425 units from the March 5 purchase; the March 29 sale consisted of 95 units from the March 18 purchase and 175 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. # of Units Cost of Goods Available for Sale Cost per Cost of Goods Available for Sale 230 $ 53.60 $ 12,328 Unit Beginning inventory Purchases: March 5 March 18 March 25 Total 290 150 280 950 $ $ $ 5,860.00 63.60 65.60 1,699,400 9,540 18,368 1.739,636 Help 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 155 units $45 per unit 455 units @ $50 per unit Date Activities Mar. 1 beginning inventory Mar. 5 Purchase Mar. 9 Sales Mar. 18 Purchase Mar. 25 Purchase Mar. 29 Sales Totals 475 units $80 per unit 230 units @ $55 per unit 310 units @ $57 per unit 270 units $90 per unit 1,150 units For specific identification, the March 9 sale consisted of 50 units from beginning inventory and 425 units from the March 5 purchase; the March 29 sale consisted of 95 units from the March 18 purchase and 175 units from the March 25 purchase. Problem 6-2AA Part 2 2. Compute the number of units in ending inventory. Ending inventory units Help Save & Exit VERTOLY Checki POEMAS $50 per unit RAK. by Amy Har: S Purehase Mar. 9 Sales Mar. 18 Purebase Mar. 25 Purehase Mar. 29 Sales Totals ADD URALS 455 units 230 unita 310 units 475 units $80 per unit $55 per unit 557 per unit 270 units 745 units $90 per unit 1,150 units For specific identification, the March 9 sale consisted of 50 units from beginning inventory and 425 units from the March 5 purchase, the March 29 sale consisted of 95 units from the March 18 purchase and 175 units from the March 25 purchase. Problem 6-2AA Part 3 3. Compute the cost assigned to ending inventory using (a) FIFO. (6) LIFO. (c) weighted average, and (d) specific identification (Round your average cost per unit to 2 decimal places.) a) Periodice FIFO Cost of Goods Available for Sale Cost of Goods Sold Ending Inventory #of units Cost per Cost of Goods Available for Sale of units sold Cost per Cost of Goods Sold # of units In ending Inventory Cost per unit Ending Inventory $ 0.00 $ $ 0.00 $ 0 Beginning inventory Purchases March 5 March 18 March 25 Total $ $ 0.00 0.00 0.00 b) Periodic LIFO Cost of Goods Sold Ending Inventory Cost of Goods Available for Sale Cost of of units cost per Goods unit Available for Sale of units sold Cost per unit Cost of Goods Sold of units In ending inventory Cost per unit Ending Inventory Help 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. s Sold at Retail Date Activities Mar. 1 Beginning inventory Mar. 5 Purchase Mar. 9 Sales Mar. 18 Purchase Mar. 25 Purchase Mar. 29 Sales Totals Units Acquired at cost 155 units $45 per unit 455 unitse $50 per unit 230 units $55 per unit 310 unitse $57 per unit 475 units $80 per unit 1,150 units 270 units e $90 per unit 745 units For specific identification, the March 9 sale consisted of 50 units from beginning inventory and 425 units from the March 5 purchase; the March 29 sale consisted of 95 units from the March 18 purchase and 175 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 un to places and final answers to nearest whole dollar.) FIFO LIFO Weighted Average Specific Identification Sales Less: Cost of goods sold Gross prol S0S0S0S0