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

Perpetual FIFO

LIFO

Weighted Average

Specific Id Compute the cost assigned to ending inventory using specific identification. For specific identification, the March 9 sale consisted of 65 units from beginning inventory and 195 units from the March 5 purchase; the March 29 sale consisted of 45 units from the March 18 purchase and 85 units from the March 25 purchase.

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 100 units @ $51.00 per unit 225 units @ $56.00 per unit Date Activities Mar. 1 Beginning inventory Mar. 5 Purchase Mar. 9 Sales Mar. 18 Purchase Mar. 25 Purchase Mar. 29 Sales 260 units @ $86.00 per unit 85 units @ $61.00 per unit 150 units @ $63.00 per unit 130 units @ $96.00 per unit 390 units Totals 560 units Date # of units Cost per unit # of units sold Cost per Cost of Goods Sold unit # of units Cost per unit $ 51.00 Inventory Balance $ 5,100.00 March 1 100 @ = March 5 225 @ $ 56.00 100 @ $ 51.00 $ 56.00 = 225 @ $ 5,100.00 12,600.00 $ 17,700.00 March 9 100 $ 51.00 $ 0 @ $ 51.00 160 $ 56.00 = 5,100.00 8,960.00 14,060.00 65 @ $ 56.00 = 3,640.00 $ 3,640.00 EA March 18 85 $ 61.00 0 @ $ 51.00 65 @ $ 56.00 = 85 @ $ 61.00 = 3,640.00 5,185.00 $ 8,825.00 March 25 150 @ $ 63.00 0 @ $ 51.00 65 $ 56.00 = 85 @ $ 61.00 = 3,640.00 5,185.00 9,450.00 $ 18,275.00 150 @ $ 63.00 March 29 0 @ $ 51.00 11 $ 0.00 0 @ $ 51.00 65 @ $ 56.00 0 @ $ 56.00 65 @ 0 @ 85 @ 3,640.00 3,965.00 0.00 $ 61.00 $ 63.00 $61.00 = $ 63.00 = 5,185.00 8,190.00 130 @ $ 7,605.00 $ 13,375.00 Totals $ 21,665.00 $ 13,375.00 Cost of Goods Sold Goods Purchased # of units unit Cost per Cost per Inventory Balance Inventory # of units unit Balance # of units sold Date Cost per unit Cost of Goods Sold March 1 100 @ $ 51.00 = $ 5,100.00 March 5 March 9 March 18 March 25 March 29 Totals $ 0.00 Weighted Average Perpetual: Goods Purchased Cost of Goods Sold Cost per Cost per # of units Date # of units sold Cost of Goods Sold Inventory Balance Cost per # of units unit Inventory Balance unit unit March 1 100 @ $ 51.00 = $ 5,100.00 March 5 Average March 9 March 18 Average March 25 March 29 Totals $ 0.00 Specific Identification: Goods Purchased # of units Cost per unit Cost of Goods Sold # of units Cost of Goods sold unit Sold Cost per Date Inventory Balance Cost per # of units unit Inventory Balance 100 @ $ 51.00 $ 5,100.00 March 1 March 5 March 9 March 18 March 25 March 29 Totals $ 0.00