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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 Sold at Retail Units Acquired at Cost 195 units @ $85 per unit 495 units @ $90 per unit Date March 1 March 5 March 9 March 18 March 25 March 29 515 units @ $120 per unit Activities Beginning inventory Purchase Sales Purchase Purchase Sales Totals 310 units @ $95 per unit 390 units @ $97 per unit 350 units @ $130 per unit 865 units 1,390 units For specific identification, units sold include 60 units from beginning inventory, 455 units from the March 5 purchase, 135 units from the March 18 purchase, and 215 units from the March 25 purchase. 3. Compute the cost assigned to ending inventory using (a) FIFO, (6) LIFO, (C) weighted average, and (d) specific identification. (Round your "average cost per unit" to 2 decimal places.) a) Periodic FIFO Cost of Goods Available for Sale Cost of Goods Sold Ending Inventory # of units Cost per unit Cost of Goods Available for Sale # of units sold Cost per unit Cost of Goods Sold # of units in ending inventory Cost per unit Ending Inventory 195 s 85.00 S 16.575 195 S 85.00 $ 16,575 S 0.00 s 0 Beginning inventory Purchases: March 5 March 18 March 25 495 s 90.00 44.550 195 GA 0.00 0 $ 90.00 $ 0.00 0 17,550 0 0 s 0.00 0.00 0 0 0 S Total 690 S 61.125 390 $ 34,125 0 b) Periodic LIFO Cost of Goods Available for Sale Cost of Goods Sold Ending Inventory # of units # of units Cost per unit Cost of Goods Available for Sale Cost per unit Cost of Goods Sold # of units in ending inventory Cost per unit sold Ending Inventory 195 $ 85.00 S 16.575 s 0 Beginning inventory Purchases: March 5 March 18 495 s 90.00 44.550 0 0 March 25 0 Total 690 S 61.125 0 0 c) Average Cost Cost of Goods Available for Sale Cost of Goods Sold Ending Inventory # of units Average Cost per unit # of units sold Cost of Goods Available for Sale S 16.575 Average Cost per Unit Cost of Goods Sold # of units in ending inventory Average Cost per unit Ending Inventory 195 Beginning inventory Purchases: March 5 March 18 March 25 495 44.550 Total 690 S 61.125 S 0 s 0 d) Specific Identification Cost of Goods Available for Sale Cost of Goods Sold Ending Inventory # of units Cost per unit Cost of Goods Available for Sale # of units sold Cost per unit Cost of Goods Sold # of units in ending inventory Cost per unit Ending Inventory 195 s 85.00 S 16.575 S 85.00 S 0 S 85.00 s 0 495 $ 90.00 44,550 $ 90.00 0 s 90.00 Beginning inventory Purchases: March 5 March 18 March 25 Total OOO olol 0 0 0 0 690 S 61.125 0 0

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