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0 Required information [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 Units Acquired at Cost Units Sold at Retail Activities Beginning inventory 100 units $50 per unit Purchase 400 units $55 per unit March 9 Sales 420 units $85 per unit March 18 Purchase 120 units March 25 Purchase 200 units @ $60 per unit @ $62 per unit March 29 Sales Totals 820 units) 160 units 580 units $95 per unit 2. Compute the number of units in ending inventory. Ending inventory units Compute the cost assigned to ending inventory using FIFO. Goods Purchased Date # of units Cost per unit # of units sold Perpetual FIFO: Cost of Goods Sold Cost per unit Cost of Goods Sold: # of units 100 at March 1) March 5 Total March 5 March 9 Total March 9 March 18 Total March 18. March 25 Inventory Balance Cost per unit Inventory Balance $ 50,00 = $ 5,000.00 March 18 Total March 18 March 25 Total March 25 March 29 Total March 20 Totals $ 0.00 0.00 March 1 Goods Purchased Date # of units Cost per unit # of units sold. March 5 Total March 5 March 9 Total March 9 March 18 Total March 18 March 25 Total March 25 Perpetual LIFO: Cost of Goods Sold Cost per unit Cost of Goods Sold # of units Inventory Balance Cost per unit Inventory Balance 100 at $50.00 = $ 5,000.00 Total March 91 March 18 Total March 18 March 25 Total March 25 March 29 Total March 29 Totals < Perpetual FIFO 0.00 Weighted Average > 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 unit # of units sold Cost per unit Cost of Goods Sold # of units Inventory Balance Cost per unit Inventory Balance 100 at $50.00 $ 5,000.00 March 11 March 5 Average March 5 March 9 March 18 Average March 18 March 25 Average March 25 March 29 Totals 0.00 Average cinc la Compute the cost assigned to ending inventory using specific identification. For specific Identification, units sold include 80 units from beginning 5 purchase, 40 units from the March 18 purchase, and 120 units from the March 25 purchase. Specific Identification: Goods Purchased Cost of Goods Sold Inventory Balance Date Cost per # of units unit Goods Puchased sold unit #of units Cost per Cost of Goods Sold Cost per # of units Inventory Balance unit March 1 March 5 100 at $50.00 = $ 5,000 at $50.00 = $ 0.00 at $50.00 $ 0.00 400 at $55.00 22,000 at $55.00 = at $55.00 March 18 120 at $60.00 B 7,200 at $60.00 = 0.00 at $60.00 = 0.00 March 25 200 at $62.00 = $ 12,400 at $62.00 at $62.00= Totals 0.00 $ 0,00 its sold include 80 units from beginning inventory, 340 units from the March Warnerwoods Company uses a perpetual inventory system. It entered into the following purchases and sales transactions for March. Date March 1 March 5 Activities Beginning inventory Purchase Units Acquired at Cost Units Sold at Retail 100 units $50 per unit 400 units $55 per unit March 9 Sales 420 units $85 per unit March 18 Purchase March 25 Purchase 120 units 200 units $60 per unit $62 per unit March 29 Sales Totals 820 units 160 units 580 units $95 per unit. 4. Compute gross profit earned by the company for each of the four costing methods. For specific identification, units sold incluct 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. (Round weighted average cost per unit to 2 decimal places.) Gross Margin Sales Less Cost of goods sold Gross profit FIFO LIFO Weighted Average Specific ID

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