Required information Problem 5-1A (Algo) Periodic: Alternative cost flows LO P1 [The following information applies to the questions displayed below] Warnerwoods Company uses a periodic iiventory system. It entered into the following purchases and sales transactions for March. Date Activities Mar 1 Beginning inventory, Mar 5 Purchase Units Acquired at Cost 175 units $65 per unit 475 units $70 per unit Mar. 9 Sales 495 units @ $100 per snit Mar 18 Purchase Mar. 25 Purchase Mar 29 Sales Totals 270 units $75 per unit 350 units @ $77 per unit 1,270 units 310 units $110 per unit For specific identification, the March 9 sale consisted of 80 units from beginning inventory and 415 units from the March 5 purchase: the March 29 sale consisted of 115 units from the March 18 purchase and 195 units from the March 25 purchase. Problem 5-1A (Algo) Part 3 3. Compute the cost assigned to ending inventory using (a) FIFO, (b) LIFO. (c) weighted average, and (d) specific identification. (Round) your "average cost per unit to 2 decimal places.) Check my work al Periodic FIFO Beginning inventory Purchases March 5 March 18 March 25 Total b) Periodic LIFO Beginning inventory Purchases March 5 March 181 March 25 Total Cost of Goods Available for Sale Cost of Goods Sold Ending Inventory # of units Cost per unit Cost of Goods Available # of units Cost per sold unit Cost of Goods of units in ending Cost per Ending unit Inventory for Sale Sold inventory $ 0 $ 0.00 $ 0 $ 0.00 $ 0 0 $ 0.00 0 $ 0.00 0 0 $ 0.00 0 $ 0.00 0 0 $ 000 0 0 Cost of Goods Available for Sale Cost of Goods Sold Ending Inventory Cost per # of units unit Cost of Goods Available for Sale # of units Cost per Cost of Goods # of units in Cost per Ending sold unit Sold ending inventory unit Inventory 0 0 8 0 0 0 Required information Cost of Goods Sold Average Cost per Unit Cost of Goods Sold c) Average Cost Beginning inventory Purchases March 5 Cost of Goods Available for Sale Average #of units Cost per unit Cost of Goods Available for Sale # of units sold March 18 March 25 Total $ Ending Inventory # of units in ending inventory Average Cost per unit Ending Inventory S d) Specific Identification Cost of Goods Available for Sale) Cost of Goods Sold Ending Inventory of units Cost per unit Cost of Goods Available for Sale of units Cost per sold unit Cost of Goods Sold of units in ending inventory Cost per unit Ending Inventory Beginning inventory Purchases March 5 901 S 0 50 $ 0 370 0 70 0 March 18 80 o 120 of March 25 160 120 0 Total 700 360