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when answering please please keep chart format. Required information Problem 5-1A Perpetual: Alternative cost flows LO P1 [The following information applies to the questions displayed

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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. Date Activities Units Acquired at Cost Units Sold at Retail 1 Beginning inventory 100 units @ $50.00 per unit Mar. 5 Purchase 400 units@ $55.00 per unit 9 Sales 420 units @ $85.00 per unit 120 units@ $60.00 per unit 200 units @ $62.00 per unit 160 units@ $95.00 per unit 820 units 580 units Mar. Mar. Mar. 18 Purchase Mar. 25 Purchase Mar. 29 Sales Totals 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 80 units from beginning inventory and 340 units from the March 5 purchase; the March 29 sale consisted of 40 units from the March 18 purchase and 120 units from the March 25 purchase. Cost of Goods Sold Inventory Balance Specific Identification: Goods Purchased #of Cost per + of units Date units unit sold March 1 Cost per Cost per Cost of Goods Sold # of units unit Inventory Balan unit $50.00 5,000 100 @ March 5 400 @ $ 55.00 80 @ $ 4,000 $ 50.00 = $ 55.00 $ 4,000. March 9 It $ 0.00 @ @ @ $ 50.00 $ 55.00 $ 50.00 = $ 55.00 = 11 0.00 @ March 18 120 @ $ 60.00 @ @ @ $ 50.00 $ 55.00 $ 60.00 @ @ $ 55.00 $ 60.00 March 25 200 @ $ 62.00 $50.00 $ 55.00 @ $ 60.00 120 @ $ 62.00 = elelele 7,446 7,440 $ March 29 - HI @@@@ $50.00 $ 55.00 $ 60.00 $ 62.00 0.00 0.00 0.00 0.00 @@@@ $ 50.00 $ 55.00 $ 60.00 $ 62.00 Totals $ 0.00

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