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4 Required information [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 Acquired at Cost 185 units $75 per unit 485 units 580 per unit Date Activities Mar. 1 Beginning inventory Mar. 5 Purchase Mar. 9 Sales Mar. 18 Purchase Mar. 25 Purchase Mar. 29 Sales Totals Units sold at Real sos units $110 per unit 290 units $85 per unit 370 units@ $87 per unit 1,330 units 330 units 5120 per unit 835 units For specific identification, the March 9 sale consisted of 40 units from beginning inventory and 465 units from the March 5 purchase, the March 29 sale consisted of 125 units from the March 18 purchase and 205 units from the March 25 purchase es 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.) a) Periodic FIFO Cost of Goods Sold Ending Inventory Cost of Goods Available for Sale Cost of # of units Goods unit Available for Sale Cost per # of units Cost per unit Cost per sold Cost of Goods Sold # of units in ending inventory unit Ending Inventory Beginning inventory Purchases March 5 March 18 March 25 Total b) Periodic LIFO Cost of Goods Sold Cost of Goods Available for Sale Cost of Goods # of units unit Available for Sale Cost per # of units Cost per sold unit Cost of Goods Sold Ending Inventory of units Ending In ending unit Inventory Inventory Cost per Beginning inventory Purchases March 5 March 18 March 25 Total c) Average Cost Cost of Goods Sold Cost of Goods Available for Sale Cost of Average Goods # of units Cost per Available unit for Sale Average # of units sold Ending Inventory of units Average in ending Cost per Ending inventory unit Inventory Cost of Goods Sold Cost per Unit Beginning inventory Purchases March 5 March 18 March 25 Total 5 d) Specific Identification Cost of Goods Available for Sale Cost of Goods Sold Ending Inventory Cost per # of units Cost of Goods Available for Sale Cost per #of units sold unit Cost per Cost of Goods Sold unit # of units in ending Inventory Ending Inventory unit Beginning inventory Purchases March 5 March 18 March 25 Total

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