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Required information

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

$[$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.

$\backslash$table$[[$Date$,$Activities,Units Acquired at cost$,$Units Sold at Retail$],[\backslash$table$[[$March $1],[$March $5]],\backslash$table$[[$Beginning inventory$],[$Purchase$]],210$ units @ $$53\mathrm{.}20$ per unit,$],[$March $9,$Sales,$280$ units @ $$58\mathrm{.}20$ per unit,$],[\backslash$table$[[$March $18],[$March $25]],$Purchase,$140$ units @ $$63\mathrm{.}20$ per unit,Ste unlts $[$ $$00\mathrm{.}20$ per unit$],[$March $29,\backslash$table$[[$Purchase$],[$Sales$]],260$ units @ $$65\mathrm{.}20$ per unit,$240$ units @$$98\mathrm{.}20$ per unit$],[,$Totals,$890$ units,$610$ 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 $120$ units from beginning inventory, $250$ units from the March $5$ purchase, $100$ units from the March $18$ purchase, and $140$ units from the March $25$ purchase.

Complete this question by entering your answers in the tabs below.

Perpetual FIFO

Perpetual LIFO

Weighted

Average

Compute the cost assigned to ending inventory using FIFO.

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$\backslash$table$[[\backslash$table$[[$Date$],[$March $1]],$Goods Purchased,Cost of Goods Sold,Inventory Balance$],[$# of units,$\backslash$table$[[$Cost per$],[$unit$]],\backslash$table$[[$# of units$],[$sold$]],\backslash$table$[[$Cost per$],[$unit$]],$Cost of Goods Sold,# of units,$\backslash$table$[[\backslash$table$[[$Cost per$],[$unit$]]],[$$$53\mathrm{.}20$

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$!$

Required information

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

$[$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.

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 $120$ units from beginning inventory, $250$ units from the March $5$ purchase, $100$ units from the March $18$ purchase, and $140$ units from the March $25$ purchase.

Complete this question by entering your answers in the tabs below.

$\left[\begin{array}{cc}\text{P}\text{e}\text{r}\text{p}\text{e}\text{t}\text{u}\text{a}\text{l}\text{F}\text{I}\text{F}\text{O}\text{P}\text{e}\text{r}\text{p}\text{e}\text{t}\text{u}\text{a}\text{l}\text{L}\text{I}\text{F}\text{O}& \{\begin{array}{ccc}\text{:}[& \text{W}\text{e}\text{i}\text{g}\text{h}\text{t}\text{e}\text{d}& ]\\ & \text{A}\text{v}\text{e}\text{r}\text{a}\text{g}\text{e}& \end{array}\end{array}\right]$

Compute the cost assigned to ending inventory using FIFO.