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Where am I wrong in this accounting assignment? requieu IULIULUI Problem 6-2AA Periodic: Alternative cost flows LO P3 [The following information applies to the questions

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requieu IULIULUI Problem 6-2AA Periodic: Alternative cost flows LO P3 [The following information applies to the questions displayed below.] Warnerwoods Company uses a periodic inventory system. It entered into the following purchases and sales transactions for March Units Sold at Retail Uits Acquired at Cost 115 units @ $50 per unit 415 units @ $55 per unit 435 units @ $85 per unit Activities Mar. 1 Beginning inventory Mar 5 Purchase Mar. 9 Sales Mar. 18 Purchase Mar. 25 Purchase Mar. 29 Sales Tot als 150 units @ $60 per unit 230 units @ $62 per unit 190 units @ $95 per unit 625 units 910 units For specific identification, the March 9 sale consisted of 50 units from beginning inventory and 385 units from the March 5 purchase, the March 29 sale consisted of 55 units from the March 18 purchase and 135 units from the March 25 purchase. b) Periodic LIFO Cost of Goods Sold # of units Cost of Cost of Goods Available for Sale Cost of # of Cost Goods units per unit Available for Sale 115 $50.00 $ 5,750 Ending Cost per unit Ending Inventory # of units in Cost ending per unit Inventory inventory 95 $ 50.00 $ 4,750 Goods Sold sold 20 X $ 50.00 $ 1,000 $ 55.00 22,825 Beginning inventory Purchases: March 5 March 18 March 25 Total 415 150 230 910 $55.00 $ 60.00 $ 62.00 22,825 9,000 14,260 $ 51,835 415 0X 190 625 0 150X 40 X 285 0 9,000 2,480 16,230 | $ 62.00 62.00 11,780 $35,605 $ 4. Compute gross profit earned by the company for each of the four costing methods. (Round places and final answers to nearest whole dollar.) FIFO LIFO Weighted Average Specific Identification Sales Less: Cost of goods sold Gross profit $ 0 % 0 % 0 % 0 3,300 $ 55.00 $ 60.00 $ 60.00 $ 62.00 55 230 285 14,260 17,560 22,825 5,700 0 $34,275 $ $ 55.00 $ 60.00 $ 62.00 415 150 230 415 95 WO 625 22,825 9,000 14,260 $ 51,835 18 Ending Inventory Ch 25 910 Cost of Goods Sold # of units Cost Ending Inventory in per unit Cost per unit Cost of Goods Sold ending inventory # of units sold $ 4.750 eriodic LIFO 95 X $ 50.00 $ 1.000 Cost of Goods Available for Sale Cost of # of Cost Goods units per unit Available for Sale 115 $ 50.00 $ 5.750 TO 20 X $ 50.00 22,825 0X 150 X 40 X 60.00 62.00 9.000 2,480 16.230 22,825 9.000 11,780 $35,605 415 X $55.00 0X 190 $ 62,00 625 Beginning inventory Purchases: March 5 March 18 March 25 285 $ 55.00 $ 60.00 $ 62.00 415 150 230 910 14.260 $ 51,835 Average Cost of Goods Sold Ending Inventory # of units Ending Cost ending Inventory per unit inventory Total Average Cost Cost of Goods Sold Goods # of units sold per Unit c) Average Cost Cost of Goods Available for Sale Average Cost of # of units Cost Available per unit for Sale $ 5.750 115 S 16 234 $ 56.96 285 535,600 415 $ 56.96 150 625 Ending Inventory 22,825 9.000 14,260 $ 59.75 X $ 51,835 Beginning inventory Purchases: March 5 March 18 March 25 Total 230 Ending Inventory 910 Cost of Goods Sold Cost per unit of units in endina Cost of Goods nf Goods Available for Sale Cost of #of Cost ner unit 78 of 8

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