required information problem 6-1A perpetual: alternative cost flows problem 6-1A part 4

Sbved Help Required information Problem 6-2AA 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 Units Sold at Retail Units Acquired at Cost 110 units $45 per unit 410 units @ $50 per unit 430 units @ $80 per unit Date Activities Mar. 1 Beginning inventory Mar. 5 Purchase Mar. 9 Sales Mar. 18 Purchase Mar. 25 Purchase Mar. 29 Sales Totals 140 units $55 per unit 220 unitse $57 per unit 880 units 180 unitse $90 per unit 610 units For specific identification, the March 9 sale consisted of 60 units from beginning inventory and 370 units from the March 5 purchase; the March 29 sale consisted of 50 units from the March 18 purchase and 130 units from the March 25 purchase. Problem 6-2AA Part 3 3. Compute the cost assigned to ending inventory using (a) FIFO, (b) LIFO. (c) weighted average, and (d) specific identification. (Round your average cost per unit to 2 decimal places.) Required information a) Periodic FIFO Cost of Goods Available for Sale Answer is not complete Cost of Goods Sold Ending Inventory Cost #of Cost of # of units units Cost in ending Ending Goods per unit sold per unit inventory Inventory Sold 110$ 45.00 $ 4,950 0$ 0.00 $ 0 Cost # of units Cost of Goods Available for Sale $ 4,950 per unit 110$ 45.00 Beginning inventory Purchases: March 5 March 18 March 25 410 $ 50.00 140 $ 55.00 220$ 57.00 20,500 7,700 12.540 410 $ 50.00 90 $ 55.00 0 20,500 4,950 0 $ 30,400 0 $ 0.00 50 $ 55.00 220 $ 57.00 270 0 2.750 12,540 Total 880 $ 45,690 610 $ 15,290 b) Periodic LIFO Ending Inventory Cost of Goods Available for Sale Cost of # of Cost Goods units Available for Sale 110 $ 45.00 $ 4,950 Cost of Goods Sold Cost #of Cost of units sold per unit Goods Sold 20 $ 45.00 900 #of units in ending inventory Cost per unit Ending Inventory per unit S 90 X $ 45.00 $ 4,050 Beginning inventory Purchases: March 5 410 $ 50.00 20.500 410 $ 50.00 20,500 0 % 0 een AM Required information units per unit units sold per unit Available for Sale $ 4,950 in ending Inventory per unit Inventory Goods Sold $ 4,950 110 $ 45.00 110 $ 45.00 $ 0.00 $ 0 Beginning inventory Purchases: March 5 March 18 March 25 0 410 $ 50.00 140 $ 55.00 220 $ 57.00 20.500 7,700 12,540 $ 45,690 410 $ 50.00 90 $ 55.00 0 20,500 4,950 0 $ 30,400 50 220 $ 0.00 $ 55.00 $ 57.00 2,750 12,540 $ 15,290 Total 880 610 270 b) Periodic LIFO Ending Inventory Cost of Goods Available for Sale Cost of # of Cost Goods units Available for Sale 110 $ 45.00 $ 4,950 Cost of Goods Sold # of Cost Cost units of sold per unit Goods Sold 20 45.00 $ 900 per unit # of units in ending inventory Cost per unit Ending Inventory 90 $ 45.00 $ 4,050 Beginning inventory Purchases: March 5 March 18 March 25 410 140 20,500 0 $ 50.00 $ 55.00 $ 57.00 20,500 7,700 12,540 410 $ 50.00 0 X 180 $ 57.00 0 % 140 X 40 X 220 55.00 57.00 10,260 7,700 2,280 $ 14,030 Total 880 $ 45,690 610 31,660 270