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Required information Problem 5-1A (Static) 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 Date Activities Units acquired at Cost Unito Sold at Betan March Beginning inventory 100 units $50 per unit March 5 Purchase 400 units 955 per unit March Balen 420 units 96 per unit March 10 Purchase 120 units 8560 per unit # 362 per unit March 29 Sales 595 per unit 820 units March 25 Purchase 200 units 160 unita 500 units Totala Problem 5-1A (Static) Part 3 3. Compute the cost assigned to ending inventory using (a) FIFO (6) LIFO. (C) weighted average, and (c) 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. Required information Perpetual FIFO Perpetual LIFO Weighted Average Specific Id Compute the cost assigned to ending inventory using FIFO. Porpetual FEO Good Purchased Cost of Goods Sold Date Cost per # of units # of units Cost per cost of Goods Sold unit sold unit March 1 400 at $55,00 March 5 Inventory Balance W of units Cost per unit Inventory Balance 100 at $ 50,00 - $5,000.00 at $ 50.00 $ 55,00 ot Total March 5 March Total March 9 120 at $60.00 March 18 at $ 60.00 Total March 18 2001 at $ 62.00 March 25 al at $ 60.00 $ 62,00 Total March 25 Required information Maron > DV 400 at $ 55.00 War 0.0 = $ 50.00 at $ 55,00 March Total March 5 March 9 Total March 120 at $ 60.001 March 18 at S 60.00 Total March 18 2001 at $ 62.00 March 25 ot at $ 60,00 5 62.00 Total March 25 March 29 Total March 29 Totals $ 0.00 5 0.00 Perpetuo Perpetual LIFO > Required information Perpetual Fifo Perpetual LIFO Weighted Average Specific Id Compute the cost assigned to ending inventory using LIFO. Perpetual LIFO Goods Purchased Cost of Goods Sold Date Cost per of units Cost per of units unit sold Cost of Goods Sold unit March 1 + Inventory Balance Cost per # of units unit Inventory Balance 100 at $ 50.00 - $ 5,000.00 March 5 Total March 5 March 9 Total March 9 March 18 Total March 18 March 25 Total March 25 Required information HU WU- March 5 Total March 5 March 9 Total March 9 March 18 Total March 18 March 25 Total March 25 March 29 Total March 29 $ Totals 0.00 Perpetual FIFO Perpetual LIFO Weighted Average Specific Id Compute the cost assigned to ending inventory using weighted average. (Round your average cost per unit to 2 decimal places.) Weighted Average Perpetual Goods Purchased Cost of Goods Sold Inventory Balance Date Cost per #of units Cost per # of units Cost of Goods Sold # of units Cost per Inventory Balance unit unit unit 100 at $50.00 - 5,000.00 March 1 sold $ March 5 Average March 5 March 9 March 18 Average March 18 March 25 Average March 25 March 29 Totals 0.00 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 specific Identification. For specific identification, units sold include 80 units from 5 purchase, 40 units from the March 18 purchase, and 120 units from the March 25 purchase. Specific Identification: Goods Purchased Cost of Goods Sold Inventory Balance Date # of units Cost per Gooc N of units unit Cost per Cost of Goods Sold of units Puchased unit unit Inventory Balance March 1 100 at $50,00 . $ 5,000 at $ 50,00 $ 0.00 at $ 50.00 $ 0.00 March 5 400 at $ 55,00 22,000 at $ 55,00 ot $ 55,00 March 18 120 al $ 60.00 7.200 at $60.00 - 0,00 at $ 60.00 0.00 March 25 200 at $ 82.00 $ 12.400 at $ 62,00 at $ 62,00 Totals $ 0.00 $ 0.00 Cost per sold