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 March 9 March 18 March 25 March 29 Perpetual FIFO Perpetual LIFO Date March 1 March 5 Average March 5 March 9 Activities Beginning inventory Purchase Sales Complete this question by entering your answers in the tabs below. March 18 Purchase Purchase Sales Totals Average March 18 HTT 3. Compute the cost assigned to ending Inventory using (a) FIFO. (b) LIFO. (c) weighted average, and (d) specific Identification. For specific Identification, units sold include 105 units from beginning inventory, 235 units from the March 5 purchase. 85 units from the March 18 purchase, and 125 units from the March 25 purchase. March 25 Average March 25 March 29 Totals Compute the cost assigned to ending inventory using weighted average. Note: Round your average cost per unit to 2 decimal places. Weighted Average Goods Purchased #of units CINDE Cost per unit Units Acquired at Cost 180 units @ $52.60 per unit 265 units @ $57.60 per unit Specific Id M 125 units 238 units 800 units #of units sold @ $62.60 per unit 2 $64.60 per unit Weighted Average Perpetual: Cost of Goods Sold Cost per unit Cost of Goods Sold $ < Perpetual LIFO Units Sold at Retail 0.00 340 units@ $87.60 per unit 210 units @ $97.68 per unit 550 units # of units 180 at Inventory Balance Cost per unit $ 52.60 Specific ld > Inventory Balance S 9.488.00
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 March 9 March 18 March 25 March 29 Perpetual FIFO Perpetual LIFO Date March 1 March 5 Average March 5 March 9 Activities Beginning inventory Purchase Sales Complete this question by entering your answers in the tabs below. March 18 Purchase Purchase Sales Totals Average March 18 HTT 3. Compute the cost assigned to ending Inventory using (a) FIFO. (b) LIFO. (c) weighted average, and (d) specific Identification. For specific Identification, units sold include 105 units from beginning inventory, 235 units from the March 5 purchase. 85 units from the March 18 purchase, and 125 units from the March 25 purchase. March 25 Average March 25 March 29 Totals Compute the cost assigned to ending inventory using weighted average. Note: Round your average cost per unit to 2 decimal places. Weighted Average Goods Purchased #of units CINDE Cost per unit Units Acquired at Cost 180 units @ $52.60 per unit 265 units @ $57.60 per unit Specific Id M 125 units 238 units 800 units #of units sold @ $62.60 per unit 2 $64.60 per unit Weighted Average Perpetual: Cost of Goods Sold Cost per unit Cost of Goods Sold $ < Perpetual LIFO Units Sold at Retail 0.00 340 units@ $87.60 per unit 210 units @ $97.68 per unit 550 units # of units 180 at Inventory Balance Cost per unit $ 52.60 Specific ld > Inventory Balance S 9.488.00
Cornerstones of Financial Accounting
4th Edition
ISBN:9781337690881
Author:Jay Rich, Jeff Jones
Publisher:Jay Rich, Jeff Jones
Chapter6: Cost Of Goods Sold And Inventory
Section: Chapter Questions
Problem 44E: Perpetual and Periodic Inventory Systems Below is a list of inventory systems options. a. Perpetual...
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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.
Date
March 1
March 5
March 9
March 18
March 25
March 29
Perpetual FIFO Perpetual LIFO
Date
March 1
March 5
Average March 5
March 9
Activities
Beginning inventory
Purchase
Sales
Complete this question by entering your answers in the tabs below.
March 18
Purchase
Purchase
Sales
Totals
Average March 18
HTT
3. Compute the cost assigned to ending Inventory using (a) FIFO. (b) LIFO. (c) weighted average, and (d) specific Identification. For
specific Identification, units sold include 105 units from beginning inventory, 235 units from the March 5 purchase. 85 units from the
March 18 purchase, and 125 units from the March 25 purchase.
March 25
Average March 25
March 29
Totals
Compute the cost assigned to ending inventory using weighted average.
Note: Round your average cost per unit to 2 decimal places.
Weighted
Average
Goods Purchased
#of units
CINDE
Cost
per unit
Units Acquired at Cost
180 units @ $52.60 per unit
265 units @ $57.60 per unit
Specific Id
M
125 units
238 units
800 units
#of units
sold
@ $62.60 per unit
2 $64.60 per unit
Weighted Average Perpetual:
Cost of Goods Sold
Cost per unit Cost of Goods Sold
$
< Perpetual LIFO
Units Sold at Retail
0.00
340 units@ $87.60 per unit
210 units @ $97.68 per unit
550 units
# of units
180 at
Inventory Balance
Cost per
unit
$ 52.60
Specific ld >
Inventory Balance
S 9.488.00](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F9e6aafbb-ce65-468b-8c9a-cfce5da49e13%2F991769ec-52b0-4278-9a3a-4d680787fe50%2Fiubagu9_processed.png&w=3840&q=75)
Transcribed Image Text: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
March 9
March 18
March 25
March 29
Perpetual FIFO Perpetual LIFO
Date
March 1
March 5
Average March 5
March 9
Activities
Beginning inventory
Purchase
Sales
Complete this question by entering your answers in the tabs below.
March 18
Purchase
Purchase
Sales
Totals
Average March 18
HTT
3. Compute the cost assigned to ending Inventory using (a) FIFO. (b) LIFO. (c) weighted average, and (d) specific Identification. For
specific Identification, units sold include 105 units from beginning inventory, 235 units from the March 5 purchase. 85 units from the
March 18 purchase, and 125 units from the March 25 purchase.
March 25
Average March 25
March 29
Totals
Compute the cost assigned to ending inventory using weighted average.
Note: Round your average cost per unit to 2 decimal places.
Weighted
Average
Goods Purchased
#of units
CINDE
Cost
per unit
Units Acquired at Cost
180 units @ $52.60 per unit
265 units @ $57.60 per unit
Specific Id
M
125 units
238 units
800 units
#of units
sold
@ $62.60 per unit
2 $64.60 per unit
Weighted Average Perpetual:
Cost of Goods Sold
Cost per unit Cost of Goods Sold
$
< Perpetual LIFO
Units Sold at Retail
0.00
340 units@ $87.60 per unit
210 units @ $97.68 per unit
550 units
# of units
180 at
Inventory Balance
Cost per
unit
$ 52.60
Specific ld >
Inventory Balance
S 9.488.00
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