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Required information Problem 6-1A 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. Units Sold at Retail Units Acquired at Cost 100 units @ $51.00 per unit 225 units @ $56.00 per unit 260 units @ $86.00 per unit Mar. Date Activities Mar. 1 Beginning inventory Mar. 5 Purchase 9 Sales Mar. 18 Purchase Mar. 25 Purchase Mar. 29 Sales Totals 85 units @ $61.00 per unit 150 units @ $63.00 per unit 130 units @ $96.00 per unit 390 units 560 units Problem 6-1A Part 1 HE Next > C2 1 2 B 4 of 4 Prey w Problem 6-1A Part 1 Required: 1. Compute cost of goods available for sale and the number of units available for sale. Cost of Goods Available for Sale Cost per # of units Cost of Goods Available for Sale Unit Beginning inventory Purchases March 5 March 18 March 25 Total 12 3 Next > 4 of 4 o W N Required information Problem 6-1A 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. Units Sold at Retail Units Acquired at Cost 100 units @ $51.00 per unit 225 units @ $56.00 per unit 260 units @ $86.00 per unit Date Activities Mar. 1 Beginning inventory Mar. 5 Purchase Mar. 9 Sales Mar. 18 Purchase Mar. 25 Purchase Mar. 29 Sales Totals 85 units @ $61.00 per unit 150 units @ $63.00 per unit 130 units@ $96.00 per unit 390 units 560 units Problem 6-1A Part 3 3. Compute the cost assigned to ending inventory using (a) FIFO. (D) LIFO, (C) weighted average, and (d) specific identificati ER Next > of 4 3 4 4 of 4 6:57 PM 10/16/20 Prey w ti 0 P N Cost assigned to ending inventory using FIFO. Perpetual Haro: Goods Purchased Cost of Goods Sold # of units Cost per Date # of units Cost per cost of Goods Sold unit sold Inventory Balance Cost per Inventory # of units unit Balance 100 @ $ 51.00 = $ 5,100.00 unit March 1 March 5 March 9 March 18 of 4 Next > Prey March 25 March 29 $ 0.00 Totals Perpetual LIFO > of 4 BE Next > 4 Prey w arch 25 March 29 $ 0.00 Totals Weighted Average > 3 4 of 4 !!! 4 CE 34 of 4 3 4 of 4 3 4 of 4 Prey a %252Fwestgatech. blackboard.com%252Fwebapps%252F... lgorithmic i Saved Help Save & Exit Submit Check my work Required information 4. Compute gross profit earned by the company for each of the four costing methods. For specific identification, the March 9 sale consisted of 65 units from beginning inventory and 195 units from the March 5 purchase the March 29 sale consisted of 45 units from the March 18 purchase and 85 units from the March 25 purchase. (Round weighted average cost per unit to two decimals and final answers to nearest whole dollar.) FIFO LIFO Avg. Cost Spec. ID Gross Margin Sales Less Cost of goods sold Gross profit Next 658 PM 10/16/2012 4 of 4