Question: multi part plz help Required information Problem 5-1A Perpetual: Alternative cost flows LO P1 [The following information applies to the questions displayed below.) Warnerwoods Company









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 Units Sold at Retail Units Acquired at Cost 80 units @ $50.60 per unit 215 units @ $55,60 per unit 240 units @ $85.60 per unit Date Activities Mar. 1 Beginning inventory Mor. 5 Purchase Mar. 9 Sales Mar. 18 Purchase Mar. 25 Purchase Mar. 29 Sales Totals 75 units@ $60.60 per unit 130 units @ $62.60 per unit 110 units@ $95.60 per unit 350 units 500 units Problem 5-1A Part 3 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 55 units from beginning inventory and 185 units from the March 5 purchase the March 29 sale consisted of 35 units from the March 18 purchase and 75 units from the March 25 purchase. Complete this question by entering your answers in the tabs below. Perpetual FIFO Perpetual LIFO Weighted Average Specific id Compute the cost assigned to ending inventory using FIFO. Perpetual FIFO: Goods Purchased W of Cost per units unit Cost of Goods Sold Cost per Cost of Goods Sold unit Cost per Dato of units sold Inventory Balanga Inventory W of units Balanco 80 @ $ 50 60 $4,048.00 80 $50 60 = $ 4048.00 2151 $ 550 11.954 00 March 1 March 5 215 @ $ 55,60 Required information Compute the cost assigned to ending inventory using FIFO. Perpetual FIFO: Cost of Goods Sold Goods Purchased ol units unit Cost per Cost per Date # of units sold Cost of Goods Sold unit March 1 Inventory Balance Cost per Inventory # of units unit Balance 80 @ $ 50.60 = $ 4,048.00 80 @ $ 50.60 $ 4,048.00 215 @ $ 55,60 = 11,954.00 $ 16,002.00 cd March 5 215 $ 55.60 OK March 9 80 @ $ 80 $4,048.00 $50.60 $ 55,60 4,048.00 0.00 4,048.00 550.60 $ 55.60 ences $ $ 4,048.00 March 18 March 25 UVVET Required information 4,048.00 $ 4,048.00 March 18 March 25 March 29 $ 4,048.00 Totals Perpetual LIFO > co Required information Compute the cost assigned to ending inventory using LIFO. Perpetual LIFO: Cost of Goods Sold Goods Purchased # of Cost per units unit Cost per Date # of units sold Cost per Cost of Goods Sold unit Inventory Balance Inventory # of units unit Balance 80 @ 550.60 = S 4,048.00 March 1 March 5 March 9 March 18 March 25 Required information March 25 March 29 Totals 0.00 Check my wor Required information Complete this question by entering your answers in the tabs below. Weighted Perpetual FIFO Perpetual LIFO Average Specific id Compute the cost assigned to ending inventory using specific identification. For specific identification, the March 9 sale consisted of ss units from beginning and 185 units from the March 5 purchase; the March 29 sale consisted of 35 units from the March 18 purchase and 75 units from the March 25 purchase. Specific Identification: Goods Purchased # of Dato units unit March 1 Cost per Cost of Goods Sold Nol units Cost per Cost of Goods sold unit Sold # of units Inventory Balance Cost per Inventory Balance 550.60 $ 4,048.00 80 March 5 March 9 Marrhh Required information March 9 March 18 March 25 March 29 Totals $ 0.00 Units Sold at Retail Units Acquired at Cost 80 units @ $50.60 per unit 215 units@ $55.60 per unit Date Activities Mar. 1 Beginning inventory Mar. 5 Purchase Mar. 9 Sales Mar. 18 Purchase Mar. 25 Purchase Mar. 29 Sales Totals 240 units @ $85.68 per unit 75 units @ $60.60 per unit 130 units @ $62.60 per unit 110 units @ $95.60 per unit 350 units 500 units Problem 5-1A Part 4 4. Compute gross profit earned by the company for each of the four costing methods. For specific identification, the March 9 consisted of 55 units from beginning inventory and 185 units from the March 5 purchase, the March 29 sale consisted of 35 the March 18 purchase and 75 units from the March 25 purchase. (Round weighted average cost per unit to two decimals ar answers to nearest whole dollar.) FIFO LIFO Avg. Cost Spec. ID Gross Margin Sales Less. Cost of goods sold Gross profit
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