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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

Date

Perpetual FIPCI Perpetual LIPO Weighted Average Specific l

March 1

Compute the cast assigned to erading inventory using FIPC).

March 5

Total March 5

Complete this question by entering your answers in the tabs below.

March 9

Total March 9

March 18

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.

Total March 18

Activities

March 25

Beginning inventory

Purchase

Sales

Total March 25

Purchase

Purchase

Sales

Totals

March 29

Total March 29

Totals

Goods Purchased

#

of units Cost

per unit

Units Acquired at Cost

180 units @ $52.60 per unit

265 units @ $57.60 per unit

# of units

sold

125 units @ $62.60 per unit

230 units @ $64.60 per unit

T

800 units

unite

Perpetual FIFO

Cost of Goods Sold

Cost

per unit

S

< Perpetual FIFO

Cost of Goods Sold of units

#

180 at

0.00

348 units @ $87.68 per unit

Units Sold at Retail

218 units @ $97.68 per unit

558 units

T

Inventory Balance

Cost

COST

per unit

T

Inventory

Balance

$52.00$ 9,408.00

Perpetual LIFO >

T

Fig: 1