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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 Units Sold at Retail 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 200 units $53.00 per unit 275 units $58.00 per unit 135 units # $63.00 per unit 250 unitse $65.00 per unit 360 units . $88.00 per unit 860 units 230 unitse $98.00 per unit 590 units 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 115 units from beginning inventory and 245 units from the March 5 purchase; the March 29 sale consisted of 95 units from the March 18 purchase and 135 units from the March 25 purchase. Perpetual FIFO: Cost of Goods Sold Goods Purchased #of Cost per units unit Date # of units sold Cost per unit Cost of Goods Sold Cost per Inventory Balance Inventory # of units unit Balance 200 @ $ 53.00 = $ 10,600.00 March 1 March 5 March 9 March 18 March 25 March 29 * Totals $ 0.00 Perpetual FIFO Perpetual LIFO Weighted Average Specific Id Compute the cost assigned to ending inventory using LIFO. Perpetual LIFO: Goods Purchased # of units unit Cost per Cost of Goods Sold # of units Cost per cost of Goods Sold sold unit Cost per Date Inventory Balance # of units Inventory unit Balance 200 @ $ 53.00 = $ 10,600.00 March 1 March 5 March 9 March 18 Muh 25 Cost per Cost per Cost per Date # of units # of units sold Cost of Goods Sold #of units unit unit unit Inventory Balance $ 10,600.00 March 1 200 @ $53.00 = March 5 March 9 + March 18 March 25 March 29 Totals $ 0.00 Weighted Average Specific Id Perpetual FIFO Perpetual LIFO 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 # of Dato units unit March 1 Cost per Cost of Goods Sold # of units Cost per cost of Goods Sold sold unit Inventory Balance Cost per # of units Inventory Balance 200 @ $ 53.00 $ 10,600.00 unit March 5 Average March 9 March 18 Average March 25 March 29 Totals 0.00 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 115 units from beginning inventory and 245 units from the March 5 purchase; the March 29 sale consisted of 95 units from the March 18 purchase and 135 units from the March 25 purchase, Specific Identification Goods Purchased Cost of Goods Sold Inventory Balance of Cost per Date of units Cost of Goods unit sold unit Sold #of units unit March 1 200 $53.00 $ 10,600.00 March 5 Cost per Cost per Inventory Balance March 9 March 18 March 25 March 5 200 @ $ 53.00 = $ 10,600. March 9 March 18 March 25 March 29 Totals 0.00

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