Required information Problem 6-2AA Periodic: Alternative cost flows LO P3 [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. Activities Mar. 1 Beginning inventory 5 Purchase 9 Sales Units Acquired at Cost 110 units @ $45 per unit 410 units @ $50 per unit Date Units Sold at Retail Mar. 430 units @ $80 per unit Mar. Mar. 18 Purchase 140 units @ $55 per unit 220 units @ $57 per unit Mar. 25 Purchase Mar. 29 Sales 180 units @ $90 per unit 610 units Totals 880 units For specific identification, the March 9 sale consisted of 60 units from beginning inventory and 370 units from the March 5 purchase; the March 29 sale consisted of 50 units from the March 18 purchase and 130 units from the March 25 purchase. Problem 6-2AA Part 3 3. Compute the cost assigned to ending inventory using (a) FIFO, (b) LIFO, (c) weighted average, and (d) specific identification. (Round your average cost per unit to 2 decimal places.) a) Periodic FIFO Cost of Goods Available for Sale Cost of Goods Sold Ending Inventory Cost of Goods Available for Sale Cost of # of units # of units Cost per unit # of units Cost per sold in ending Cost per unit Ending Inventory Goods unit Sold inventory Beginning inventory Purchases: 0.00 S 0.00 S March 5 0.00 0.00 March 18 0.00 2$ 0.00 March 25 0.00 Total

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Chapter1: Financial Statements And Business Decisions
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Need to compute Periodic system for FIFO, LIFO, Weighted average, and Specific identification.

Required information
Problem 6-2AA Periodic: Alternative cost flows LO P3
[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.
Activities
Units Acquired at Cost
110 units @ $45 per unit
410 units @ $50 per unit
Date
Units Sold at Retail
1 Beginning inventory
5 Purchase
9 Sales
Mar.
Mar.
Mar.
430 units @ $80 per unit
140 units @ $5 per unit
220 units @ $57 per unit
Mar. 18 Purchase
Mar. 25 Purchase
Mar. 29 Sales
180 units @ $90 per unit
Totals
880 units
610 units
For specific identification, the March 9 sale consisted of 60 units from beginning inventory and 370 units from the March 5
purchase; the March 29 sale consisted of 50 units from the March 18 purchase and 130 units from the March 25 purchase.
Problem 6-2AA Part 3
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 Available for Sale
Cost of Goods Sold
Ending Inventory
# of units Cost per
unit
Cost of
Goods
Available
# of units Cost per
sold
Cost of # of units
Cost per
unit
Ending
Inventory
Goods
in ending
unit
Sold
inventory
for Sale
Beginning inventory
0.00 S
0.00 S
Purchases:
March 5
0.00
0.00
March 18
0.00
0.00
March 25
0.00
Total
の|の
Transcribed Image Text:Required information Problem 6-2AA Periodic: Alternative cost flows LO P3 [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. Activities Units Acquired at Cost 110 units @ $45 per unit 410 units @ $50 per unit Date Units Sold at Retail 1 Beginning inventory 5 Purchase 9 Sales Mar. Mar. Mar. 430 units @ $80 per unit 140 units @ $5 per unit 220 units @ $57 per unit Mar. 18 Purchase Mar. 25 Purchase Mar. 29 Sales 180 units @ $90 per unit Totals 880 units 610 units For specific identification, the March 9 sale consisted of 60 units from beginning inventory and 370 units from the March 5 purchase; the March 29 sale consisted of 50 units from the March 18 purchase and 130 units from the March 25 purchase. Problem 6-2AA Part 3 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 Available for Sale Cost of Goods Sold Ending Inventory # of units Cost per unit Cost of Goods Available # of units Cost per sold Cost of # of units Cost per unit Ending Inventory Goods in ending unit Sold inventory for Sale Beginning inventory 0.00 S 0.00 S Purchases: March 5 0.00 0.00 March 18 0.00 0.00 March 25 0.00 Total の|の
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