Warnerwoods Company uses a perpetual inventory system. It entered into the following purchases and sales transactions for March. Date Activities Units Acquired at Cost Units sold at Retail Mar. 1 Beginning inventory 250 units@ $54.00 per unit Mar. 5 Purchase 300 units @ $59.00 per unit Mar. 9 Sales 410 units @ $89.00 per unit Mar. 18 Purchase 160 units @ $64.00 per unit Mar. 25 Purchase 300 units @ $66.00 per unit Mar. 29 Sales 280 units @ $99.00 per unit Totals 1,010 units 690 units compute the cost assigned to ending inventory using FIFO, LIFO, weighted average, and specific identification. For specific identification, the March 9 sale consisted of 140 units from the beginning inventory and 270 units from the March 5 purchase; the March 29 sale consisted of 120 units from the March 18 purchase and 160 units from the March 25 purchase. Compute the cost assigned to ending inventory using FIFO. Perpetual FIFO Perpetual LIFO Weighted Average Specific Id (four tabs) Goods Purchased Cost of Goods sold Inventory Balance Date #of units Cost per #of units sold Cost per unit Cost of Goods Sold #of units Cost per unit Inventory balance Mar 5 ______@______ _______ @ _______ = ___________ _______ @ _______ = ___________ _______ @ _______ = ____________ Mar 9 _________ @ ____ ________ @ _______ = ____________ _________ @ ____ ________ @ _______ = ____________ Mar 18 ____ @ ____ ________ @ ________ = ___________ ________ @ _______ = ___________ ________ @ _______ = ___________ Mar 25 ____ @ ____ ________ @ _______ = __________ ________ @ _______ = ___________ ________ @ _______ = ___________ ________ @ _______ = ___________ Mar 29 _____ ________ @ _______ = __________ _____ ________ @ _______ = __________ _____ ________ @ _______ = __________ _____ ________ @ _______ = __________
Warnerwoods Company uses a perpetual inventory system. It entered into the following purchases and sales transactions for March.
Date Activities Units Acquired at Cost Units sold at Retail
Mar. 1 Beginning inventory 250 units@ $54.00 per unit
Mar. 5 Purchase 300 units @ $59.00 per unit
Mar. 9 Sales 410 units @ $89.00 per unit
Mar. 18 Purchase 160 units @ $64.00 per unit
Mar. 25 Purchase 300 units @ $66.00 per unit
Mar. 29 Sales 280 units @ $99.00 per unit
Totals 1,010 units 690 units
compute the cost assigned to ending inventory using FIFO, LIFO, weighted average, and specific identification. For specific identification, the March 9 sale consisted of 140 units from the beginning inventory and 270 units from the March 5 purchase; the March 29 sale consisted of 120 units from the March 18 purchase and 160 units from the March 25 purchase.
Compute the cost assigned to ending inventory using FIFO.
Perpetual FIFO Perpetual LIFO Weighted Average Specific Id (four tabs)
Goods Purchased Cost of Goods sold Inventory Balance
Date #of units Cost per #of units sold Cost per unit Cost of Goods Sold #of units Cost per unit Inventory balance
Mar 5 ______@______ _______ @ _______ = ___________
_______ @ _______ = ___________
_______ @ _______ = ____________
Mar 9 _________ @ ____ ________ @ _______ = ____________
_________ @ ____ ________ @ _______ = ____________
Mar 18 ____ @ ____ ________ @ ________ = ___________
________ @ _______ = ___________
________ @ _______ = ___________
Mar 25 ____ @ ____ ________ @ _______ = __________
________ @ _______ = ___________
________ @ _______ = ___________
________ @ _______ = ___________
Mar 29 _____ ________ @ _______ = __________
_____ ________ @ _______ = __________
_____ ________ @ _______ = __________
_____ ________ @ _______ = __________
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