Question: ! Required information Problem 6 - 2 AA ( Algo ) Periodic: Alternative cost flows LO P 3 [ The following information applies to the

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Required information
Problem 6-2AA (Algo) Periodic: Alternative cost flows LO P3
[The following information applies to the questions displayed below.]
Warnerwoods Company uses a periodic inventory system. It entered into the following purchases and sales transactions for March.
\table[[Date,Activities,Units Acquired at Cost,Units Sold at Retail],[\table[[March 5],[March 9]],\table[[Purchase],[Sales]],425 units @ $65 per unit,445 units @ $95 per unit],[\table[[March 18],[March 25]],\table[[Purchase],[Purchase]],\table[[170 units @ $70 per unit],[250 units a $72 per unit]],],[March 29,Sales,250 units (d $2 per unit,210 units @ $105 per unit],[,Totals,970 units,655 units]]
For specific identification, units sold include 80 units from beginning inventory, 365 units from the March 5 purchase, 65 units from the March 18 purchase, and 145 units from the March 25 purchase.
Problem 6-2AA (Algo) Part 3
3. Compute the cost assigned to ending inventory using (a) FIFO, (b) LIFO, (c) weighted average, and (d) specific identification. Note: Round your "average cost per unit" to 2 decimal places.
a) Periodic FIFO
\table[[Cost of Goods Available for Sale,Cost of Goods Sold,Ending Inventory,],[# of units,\table[[Cost per],[unit]],\table[[Cost of],[Goods],[Available]],\table[[# of units],[sold]],\table[[Cost per],[unit]],\table[[Cost of],[Goods]],\table[[# of units in],[ending]],\table[[Cost per],[unit]],\table[[Ending],[Inventory]]]]
 ! Required information Problem 6-2AA (Algo) Periodic: Alternative cost flows LO

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