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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
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 190 units @ $52.80 per unit 270 units @ $57.80 per unit Date March 1 March 5 March 9 March 18 March 25 March 29 350 units @ $87.80 per unit Activities Beginning inventory Purchase Sales Purchase Purchase Sales Totals 130 units 240 units @ $62.80 per unit @ $64.80 per unit 220 units @ $97.80 per unit 570 units 830 units 3. Compute the cost assigned to ending inventory using (a) FIFO, (6) LIFO, () weighted average, and (c) specific identification. For specific identification, units sold include 110 units from beginning inventory, 240 units from the March 5 purchase, 90 units from the March 18 purchase, and 130 units from the March 25 purchase. Complete this question by entering your answers in the tabs below. Perpetual FIFO Perpetual LIFO Weighted Average Specific Id Compute the cost assigned ending inventory using specific identification. For specific identification, units sold include 110 units from beginning inventory, 240 units from the March 5 purchase, 90 units from the March 18 purchase, and 130 units from the March 25 purchase. Specific Identification Ending Inventory Date # of units Cost per Goods Sold in ending Ending Inventory unit inventory 0 $ $ 0 Goods Available for Sale Cost of Goods Sold Cost of Goods Cost per # of units Cost per Available for Cost of # of units unit sold unit Sale 190 $ 52.80 $ 10,032 $ 52.80 $ 270 57.80 15,606 57.80 130 62.80 8,164 62.80 240 64.80 15,552 830 $ 49,354 0 $ 0 March 1 March 5 March 18 March 25 Total 52.80 57.80 62.80 0 0 0 64.80 0 0 0 $ 0
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