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 March 1 March 5 March 9 March 18 March 25 March 29 Problem 5-1A (Static) Part 3 Activities Beginning inventory Purchase Sales Purchase Purchase Sales Totals March 1 Perpetual FIFO Perpetual LIFO Date March 5 Weighted Average Compute the cost assigned to ending inventory using FIFO. Complete this question by entering your answers in the tabs below. Goods Purchased # of units 400 at 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 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. Units Acquired at Cost @ $50 per unit @ $55 per unit 100 units 400 units Specific Id Cost per # of units unit sold $55.00 120 units 200 units 820 units @ $60 per unit @ $62 per unit Perpetual FIFO: Cost of Goods Sold Cost per unit Cost of Goods Sold 100 420 units # of units 100 160 units 580 units Units Sold at Retail at @ $85 per unit at @ $95 per unit Inventory Balance Cost per unit $50.00 $50.00 = Inventory Balance $ 5,000.00 $ 5,000.00

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. Problem 5-1A (Static) 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 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. Complete this question by entering your answers in the tabs below. Compute the cost assigned to ending inventory using FIFO