Question: help with these questions please Note: Round your average cost per unit to 2 decimal places. 3 Required information [The following information applies to the

help with these questions please
help with these questions please Note: Round your average cost per unit
to 2 decimal places. 3 Required information [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. 3. Compute
the cost assigned to ending imventory using (a) FIFO, (b) LIFO, (C)
weighted average, and ( d ) specific identification. For specific identification, units
sold include 80 units from beginning inventory, 340 units from the March

Note: Round your average cost per unit to 2 decimal places. 3 Required information [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. 3. Compute the cost assigned to ending imventory using (a) FIFO, (b) LIFO, (C) weighted average, and ( d ) specific identification. For specific identification, units sold include 80 units from beginning inventory, 340 units from the March 5 purchase, 40 units from the March 18 purchase, and 120 units from the March 25 purchase. Complete this question by entering your answers in the tabs below. Required information lont 3 of 3 \begin{tabular}{|c|c|c|c|c|c|c|c|c|c|c|c|c|c|c|} \hline \multicolumn{15}{|c|}{ Perpetual LIFO: } \\ \hline \multirow{3}{*}{DateMarch1} & \multicolumn{3}{|c|}{ Goods Purchased } & \multicolumn{5}{|c|}{ Cost of Goods Sold } & \multicolumn{6}{|c|}{ Inventory Balance } \\ \hline & \multicolumn{2}{|c|}{ \# of units } & \multirow[t]{2}{*}{Costperunit} & \multicolumn{2}{|c|}{ofunitssold} & \multirow[t]{2}{*}{Costperunit} & \multicolumn{2}{|c|}{ Cost of Goods Sold } & \multicolumn{2}{|c|}{ F of units } & \multirow{2}{*}{\begin{tabular}{|c|} Costperunit \\ $50.00 \\ \end{tabular}} & \multicolumn{3}{|c|}{ Inventory Balance } \\ \hline & & & & & & & & & 100 & at & & = & $ & 5,000.00 \\ \hline \multirow{2}{*}{ March 5} & 400 & at & $55.00 & & & & & & 100 & at & $50.00 & = & $ & 5,000.00 \\ \hline & 4 & . & & & & & & & 400 & at & $55.00 & = & & 22,000.00 \\ \hline Total March 5 & & & & & & & & & & & & & $ & 27,000,00 \\ \hline \multirow{2}{*}{ March 9} & & & & 400 & at & $50.00 & = & $20,000,00 & 0 & at & $50.00 & = & & \\ \hline & & & & 20 & at & $55.00 & = & 1,100,00 & 80 & at & $55.00 & = & $ & 4,400.00 \\ \hline Total March 9 & & & & & & & & $21,100.00 & & & & & $ & 4,400,00 \\ \hline \multirow{3}{*}{ March 18} & 120 & at & $60.00 & & & & & & 80 & at & $50.00 & = & s & 4,000,00 \\ \hline & & & & & & & & & 120 & at & $5500 & = & & 6,600.00 \\ \hline & & & & & & & & & & at & $60.00 & & & \\ \hline Total March 18 & & & & & & & & & & & & & s & 10,600.00 \\ \hline \multirow{4}{*}{ March 25} & 200 & at & $6200 & & & & & & & at & $50.00 & & & \\ \hline & & & & & & & & & & at & $55.00 & & & \\ \hline & & & & & & & & & & at & $60.00 & & & \\ \hline & & & & & & & & & & at & $62.00 & & & \\ \hline Total March 25 & & & & & & & & & & & & & & \\ \hline \end{tabular} Part 3 of 3 eflook Perpetual uFo ? Compute the cost assigned, to ending inventory using specific identification. For specific identification, units sold include 80 units from beginning units from the March 5 purchase, 40 units from the March 18 purchase, and 12.0 units from the March 25 purchase

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Accounting Questions!