Week 5 Problems Saved Help Required information Problem 5-1AA Periodic: Alternative cost flows LO P1 (The following information applies to the questions displayed below) Warnerwoods Company uses a periodic inventory system t entered into the following purchases and sales transactions for March tiesl Units Acquired at Costml Units Sold at Retai 175 units$65 pen unit 475 unitse $7e per unit Mar. 1 Beginning inventory Mar.5 Purchase Mar. 9 Sales Mar. 18 Purchase Mar. 25 Purchase Mar. 29 Sales 495 unitse $100 per unit 27e units e $7s pen anit 5e units$77 per unit 31e units $11 per unit 805 units Totals 1,270 units For specific identification, the March 9 sale consisted of 30 units from beginning inventory and 415 units from the March 5 purchase, the March 29 sale consisted of 115 units from the March 18 purchase and 195 units from the March 25 purchase. Problem 5-1AA Part 3 3. Compute the cost assigned to ending inventory using (a) FIFO. (b)LIFO. (c) weighted average, and (d) specific identification. Complete this question by entering your answers in the tabs below. Periodic FIFO Periodic LIFO Weighted Average Specific Id ine Marcn 2y sale consistea onio units "om tne Marcn purcnase ana units irom tne Marcn purcase Problem 5-1AA Part3 3. Compute the cost assigned to ending inventory using (e) FIFO. (o) LIFO. ( weighted average, and (d) specific identification Complete this question by entering your answers in the tabs below. Periodic FIFO Periodic LIFO Weighted WeightedSpecific Id Compute the cost assigned to ending inventory using FIFO. ) Periodic FIFOCont of Goods Available for Sal Cost of Goods Sold Ending Inventory Cost of units Cost per | Goods # of units cost per Cost of # of units : Cost per costot | #0 Sold inventory Ending unit unitAvailable sold for Sale Beginning inventory Purchases: March 5 March 18 March 25 Total Periodic LIFO> Help purcnase, tne marcn 29 sare consisteo or ns urns trom une marcn to purcnase ana 19o units trom tne marcn 25 purcnase. Problem 5-1AA Part 3 3. Compute the cost assigned to ending inventory using (a) FIFO. (b) LIFO. () weighted average. and (d) specific identification. Complete this question by entering your answers in the tabs below. Periodic FIFO PeriodioLIFOWeighted Compute the cost assigned to ending inventory using LIFO b) Periodic LIFO Average Cost of Goods Available for Sale Cost of Goods Sold Ending Inventory Cost of Goods unit Availablesold il ! Goods in ending -unit Inventory cost of | # of units #Of units | Cost per | # of units Cost per unit Sold inventory Beginning inventory Purchases: March 5 March 18 March 25 Total K Periodic FIFO Weighted Average > Problem 5-1AA Part 3 3. Compute the cost assigned to ending inventory using (a) FIfO, (b) LIFO, (c)weighted average. and (d) specific identification. Complete this qu per Goods in ending Cost per 18 - purcnase, tne Marcn zy sale consistea on's units tom tne Maron purcnase ana :s units rrorn tre Maren 25 pur Problem 5-1AA Part 3 3. Compute the cost assigned to ending inventory using (a) FIFO. (b) LIFO. (c) weighted average, and (d) specific identificat Complete this question by entering your answers in the tabs below. Weighted Specific Id Periodic FIFO Periodic LIFO Weighted Compute the cost assigned to ending inventory using specific identification. d) Specific Cost of Goods Available for SaleCot of Goods Sold Ending Inventory Identification Cost of Goods | # of units l Cost per | Goods Cost of | # of units in ending cost per unit Ending Inventory # of units cost per unit unit Availablesold Sold inventory for Sale Beginning inventory Purchases March 5 March 18 March 25 Total
