Problem $5-1$A $($Algo$)$ Perpetual: Alternative cost flows LO P$1$

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$[$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 Units Sold at Retail

March $1$ Beginning inventory $80$ units @ $$50\mathrm{.}60$ per unit

March $5$ Purchase $215$ units @ $$55\mathrm{.}60$ per unit

March $9$ Sales $240$ units @ $$85\mathrm{.}60$ per unit

March $18$ Purchase $75$ units @ $$60\mathrm{.}60$ per unit

March $25$ Purchase $130$ units @ $$62\mathrm{.}60$ per unit

March $29$ Sales $110$ units @ $$95\mathrm{.}60$ per unit

Totals $500$ units $350$ units

Problem $5-1$A $($Algo$)$ 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, units sold include $55$ units from beginning inventory, $185$ units from the March $5$ purchase, $35$ units from the March $18$ purchase, and $75$ units from the March $25$ purchase. Problem $5-1$A $($Algo$)$ Part $3$

Compute the cost assigned to ending inventory using

$($a$)$ FIFO,

$($b$)$ LIFO,

$($c$)$ weighted average, and

$($d$)$ specific identification.

For specific identification, units sold include $55$ units from beginning inventory, $185$ units from the March $5$ purchase, $35$ units from the

March $18$ purchase, and $75$ units from the March $25$ purchase. Required information

Compute the cost assigned to ending inventory using FIFO. Required information

Compute the cost assigned to ending inventory using LIFO.

$$ For specific identification, units sold include $55$ units from beginning inventory, $185$ units from the March $5$ purchase, $35$ 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 weighted average.

Note: Round your average cost per unit to $2$ decimal places.

$\backslash$table$[[$Weighted Average Perpetual:$],[$Date$,$Goods Purchased,Cost of Goods Sold,Inventory Balance$],[$# of units,$\backslash$table$[[$Cost per$],[$unit$]],\backslash$table$[[$# of units$],[$sold$]],$Cost per unit,Cost of Goods Sold,# of units,$\backslash$table$[[$Cost per$],[$unit$]],$Inventory Balance$],[,,,80,$at$,$$$,50\mathrm{.}60,,\backslash$table$[[,4,048\mathrm{.}00]]],[$March $5],[$March $5,,,,,,,,,,,],[$Average March $5],[$March $9],[$March $18],[$Average March $18],[],[$March $25],[],[$Average March $25],[$March $29],[$Totals$,,,,,0\mathrm{.}00,,,,,,]]($a$)$ FIFO,

$($b$)$ LIFO,

$($c$)$ weighted average, and

$($d$)$ specific identification.

For specific identification, units sold include $55$ units from beginning inventory, $185$ units from the March $5$ purchase, $35$ 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.

Compute the cost assigned to ending inventory using specific identification. For specific identification, units sold include $55$ units from beginning inventc

units from the March $5$ purchase, $35$ units from the March $18$ purchase, and $75$ units from the March $25$ purchase.