You received partial credit in the previous attempt 7 Warnerwoods Company uses a periodic inventory system. It entered into the following purchases and sales transactions for March Date Units sold at Retail 3 of 4 Har: Activities Mar. 1 Beginning Inventory 5 Purchase Mar. 9 Sales Mar. 18 Purchase Mar 25 Purchase Mar. 29. Sales Totals Units Acquired at Cost 200 units @ $90 per unit 500 units 595 per unit 320 units $100 per unit 400 units 51e2 per unit 520 units 5125 per unit 0133:02 1,420 units 360 units $135 per unit 850 units Book For specific identification, the March 9 sale consisted of 70 units from beginning inventory and 450 units from the March 5 purchase the March 29 sale consisted of 140 units from the March 18 purchase and 220 units from the March 25 purchase rint 3. Compute the cost assigned to ending inventory using (a) FIFO, (b) LIFO. (c) weighted average, and (d) specific identification (Round your average cost per unit to 2 decimal places.) a) Periodic FIFO Cost of Goods Available for Sale Cost of Goods Sold Ending Inventory Cost per of units sold Cost per of units Cost per Cost of Goods unit Available for Sale 200 $ 90,00 $ 18,000 unit Cost of Goods Sold #of units in ending Inventory unit Ending Inventory 200 $90.00 $ 18.000 os 0.00 $ 0 Beginning inventory Purchases March 5 March 18 March 25 Total 500 $ 95,00 230 $ 100.00 500 $95.00 320 $ 100.00 400 $ 102.00 1,420 47.500 32 000 40.800 5138,300 47 500 23 000 0 $ 88,500 os 0.00 90 $ 100.00 400 $ 102.00 490 9.000 40.000 5.49,800 930 b) Periodic LIFO Cost of Goods Sold Ending Inventory Cost of Goods Available for Sale Cost of Goods Cost per of units Cost per Cost of Goods F of units in ending Cost per Ending Required information Cost per of units sold Cost per unit Cost of Goods Sold Cost of Goods of units unit Available for Sale 2005 DO 00 $ 18.000 Cost per of units in ending inventory unit Ending Inventory 2005 0.005 18.000 0 $ 0.005 0 Beginning inventory Purchases March 8 March 18 March 25 500 S 95.00 200 5 1000 500 595.00 320 $ 100.00 400 3 10300 1.420 47.500 32.000 40.800 $138.300 47.500 O 5 0.00 231.000 00 $ 100.00 op 400 $ 102.00 3 60.000 400 0 2.000 40.800 549 8001 030 PeLIFO Cost of Goods Sold Ending Inventory Cost of Goods Available for sale Cost of Goods of units unit Available for Sale 200 $ 9000 5 18.000 Cost per of units Cost per sold unit Cost of Goods Sold Cost per of units in ending inventory Ending Inventory 200 500.00 $ 18,000 5 0 300 5 95.00 Beginning inventory Purchases March March to March 25 Total 28.500 0 5001 505.00 320 $ 100.00 400 $ 102.00 1.420 47.500 32,000 40.800 5138.300 500 5.46.500 erage Cost Cost of Goods Sold Ending inventory Cost of Goods Available for Sale Average Cost of of units Cost per Goods Available Unit for Sale 200 $ 18,000 of units sold Average Cost per Unit Cost of Goods Sold of units Average in ending Cost per inventory unit Ending Inventory Beginning inventory Purchases March 5 March 18 March 25 Total 500 920 400 1.420 47500 12,000 40.800 $136.300 $ 0 Specific Ndertification Cost of Goods Avaliable for Sale Cost of Goods Sald Ending Inventory Cost of of units Cost per Goods unit Available for Sale 200 000 $ 19.000 Wol units sold Cost per Unit Cost of Goods Bold of units in ending inventory Cost per unit Endling Inventory Bi 0.005 500.00 Beginning inventory Purchases March March 18 March 25 0 0 500S 080g 320 $ 100.00 400 3 102.00 100 20.000 40.800 S 500 $ 100.00 S 102.00 505.00 5 100.00 $102.00 D 0