Required information Problem 6-1A 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 Activities Mar. 1 Beginning inventory Mar. 5 Purchase Mar. 9 Sales Mar. 18 Purchase Mar. 25 Purchase Mar. 29 Sales Totals Units Acquired at Cost 120 units @ $51.40 per unit 235 units $56.40 per unit Units Sold at Retail 280 units $86.40 per unit 95 units @ $61.40 per unit 170 units $63.40 per unit 150 units $96.40 per unit 620 units 430 units Problem 6-1A 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, the March 9 sale consisted of 75 units from beginning inventory and 205 units from the March 5 purchase; the March 29 sale consisted of 55 units from the March 18 purchase and 95 units from the March 25 purchase. Complete this question by entering your answers in the tabs below. < Prev 4 5 of 5 Next > of 3 Problem 6-1A 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, the March 9 sale consisted of 75 units from beginning inventory and 205 units from the March 5 purchase; the March 29 sale consisted of 55 units from the March 18 purchase and 95 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 ok ences Compute the cost assigned to ending inventory using FIFO. Perpetual FIFO Goods Purchased # of Date units Cost per unit # of units sold unit Cost of Goods Sold Cost per Cost of Goods Sold # of units Inventory Balance + Cost per Inventory unit Balance 120 @ $51.40 $ 6,168.00 March 1 March 5 March 9 < Prev 4 5 of 5 Next > of 3 Required Information Compute the cost assigned to ending inventory using FIFO. Perpetual FIFO: March 1 March 5 Dok ences March 9 Goods Purchased Date #of units Cost per unit # of units sold Cost of Goods Sold Cost per unit Cost per Cost of Goods Sold # of units unit 120 @ $51.40 Inventory Balance- Inventory Balance $ 6,168.00 March 18 March 25 March 29 < Prev 4 5 of 5 Next > Required information f3 March 18 Inces March 25 March 29 Totals 9 $ 0.00 Perpetual FIFO Perpetual LIFO > < Prev 4 5 of 5 Next > 5 Required information Perpetual FIFO Perpetual LIFO Weighted Average Specific Id Compute the cost assigned to ending inventory using LIFO. Perpetual LIFO: Goods Purchased Cost of Goods Sold Date # of units Cost per # of units unit sold Cost per unit Cost of Goods Sold Inventory Balance Cost per Inventory # of units unit Balance 120 @ $51.40= $ 6.168.00 March 11 March 5 March 9 March 18 March 25 CO < Prev 4 5 of 5 Next > + March 9 March 18 March 25 March 29 Totals $ 0.00 < Perpetual FIFO Weighted Average > 9 < Prev 4 5 of 5 Next > + ces Required information Perpetual FIFO Perpetual LIFO] Weighted Average Specific Id Compute the cost assigned to ending inventory using weighted average. (Round your average cost per unit to 2 decimal places.) Weighted Average Perpetual: Goods Purchased Cost of Goods Sold Date # of units Cost per # of units unit sold Cost per unit Cost of Goods Sold of units Inventory Balance Cost per unit Inventory Balance 120 @ $51.40= $ 6,168.00 March 1 March 5 Average March 9 March 181 Average March 25 March 29 Totals < Perpetual LIFO 0.00 Specific Id> < Prev 4 5 of 5 Next > Required information Perpetual FIFO Perpetual LIFO Weighted Average Specific Id Compute the cost assigned to ending inventory using specific identification. For specific identification, the March 9 sale consisted of 75 units from and 205 units from the March 5 purchase; the March 29 sale consisted of 55 units from the March 18 purchase and 95 units from the March 25 o Specific Identification: Date March 11 Goods Purchased # of units Cost of Goods Sold Cost per unit # of units sold Cost per unit Cost of Goods Sold # of units 120 @ Inventory Balance Cost per unit $51.40 Inventory Balance $ 6,168.00 March 5 March 9 March 181 March 25 Required information March b March 9 March 18 March 25 March 29 Totals $ 0.00 < Weighted Average Specific Id < Prev 4 5 of 5 Next > +