Warnerwoods Company uses a perpetual inventory system. It entered into the following purchases and sales transactions for March.

! Required information Problem 5-1A Perpetual: Alternative cost flows LO P1 (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 @ $58.00 per unit 360 units @ $88.00 per unit Date Activities Mar. 1 Beginning inventory Mar. 5 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 Problem 5-1A Part 3 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. Perpetual FIFO: Cost of Goods Sold Goods Purchased # of Cost per # of units units unit sold Cost per Cost of Goods Sold Inventory Balance Cost per Inventory # of units unit Balance 200 @ $ 53.00 = $ 10,600.00 Date March 1 March 5 unit March 9 March 18 March 25 March 29 Totals $ 0.00 Perpetual LIFO: Goods Purchased # of Cost per units unit # of units sold Date Cost of Goods Sold Cost per Cost of Goods Sold unit Inventory Balance Cost per # of units Inventory unit Balance 200 @ $ 53.00 = $ 10,600.00 March 1 March 5 March 9 March 18 March 25 March 29 Totals $ $ 0.00 Cost per Weighted Average Perpetual: Goods Purchased # of Date units unit March 1 March 5 Cost of Goods Sold # of units Cost per Cost of Goods Sold sold unit Inventory Balance # of units Cost per Inventory Balance unit 200 @ $53.00 = $ 10,600.00 Average March 9 March 18 Average March 25 March 29 Totals 0.001 Specific Identification: Goods Purchased Date # of units unit March 1 Cost per Cost of Goods Sold # of units Cost per Cost of Goods sold unit Sold Inventory Balance # of units Cost per Inventory Balance unit 200 @ $53.00 = $ 10,600.00 March 5 March 9 March 18 March 25 March 29 Totals $ 0.00