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# [Solved] Assignment 219367

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Question
Problem 6-2AA Periodic: Alternative cost ?ows 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. Date
Mar.
1 Mar.
5 Mar.
9 Mar. 18 Mar. 25 Mar. 29 Activities
Beginning inventory
Purchase
Sales
Purchase
Purchase
Sales Totals Units Acquired at Cost 170 units @ \$60 per unit 470 units @ \$65 per unit 260 units @ \$70 per unit 340 units @ \$72 per unit Units Sold at Retail 490 units @ \$95 per unit 300 units @ \$105 per unit 1,240 units 790 units For speci?c identi?cation, the March 9 sale consisted of 90 units from beginning inventory and 400 units from the March 5 purchase; the
March 29 sale consisted of 110 units from the March 18 purchase and 190 units from the March 25 purchase.
References
Section Break 3. Award: 25.00 points Problem 6-2AA Periodic:
Alternative cost ?ows LO P3Problem 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 # of units Cost per unit Beginning inventory Cost of Goods Sold Cost of Goods # of units Available sold
for Sale
\$ Ending Inventory Cost of Goods Sold Cost per unit # of units in ending inventory Cost per unit Ending Inventory 0 \$ 0.00 \$ 0 \$ 0.00 \$ 0 March 5 0 \$ 0.00 0 \$ 0.00 0 March 18 0 \$ 0.00 0 \$ 0.00 0 March 25 0 0 \$ 0.00 0 Purchases: Total
b) Periodic LIFO 0 0 Cost of Goods Available for Sale
# of units Cost per unit 0 Cost of Goods Sold Cost of Goods # of units Available sold
for Sale Ending Inventory Cost of Goods Sold Cost per unit # of units in ending inventory Cost per unit Beginning inventory Ending Inventory
\$ 0 Purchases:
March 5 0 March 18 0 March 25 0
0 Total
c) Average Cost Cost of Goods Available for Sale
# of units Average Cost per unit 0 Cost of Goods Sold Cost of Goods # of units Available sold
for Sale Average Cost per Unit Ending Inventory Cost of Goods Sold # of units in ending inventory Average Cost per unit Ending Inventory Beginning inventory
Purchases:
March 5
March 18
March 25
\$ Total
d) Specific Identification Cost of Goods Available for Sale # of units Cost per unit 0 Cost of Goods Sold Cost of Goods # of units Available sold
for Sale Beginning inventory \$ 0 Ending Inventory Cost of Goods Sold Cost per unit \$ # of units in ending inventory 0 Cost per unit Ending Inventory
\$ 0 Purchases:
March 5 0 0 March 18 0 0 March 25 0
0 Total References
Expanded table Difficulty: 3 Hard 0
0 Problem 6­2AA Part 3 Learning Objective: 06­P3
Appendix 6A­Compute
inventory in a periodic
system using the methods of
specific identification, FIFO,
LIFO, and weighted
average.

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