Please help me make a perpetual FIFO, perpetual LIFO, Weighted Average, and Specific ID chart. Thank you omeworkWarnerwoods Company uses a perpetual inventory system. It entered into the following purchases and sales transactionsfor March.DateMarch 1March 5March 9March 18March 25.March 29ActivitiesBeginning inventoryPurchaseSalesPurchasePurchaseSalesTotals.Perpetual FIFO Perpetual LIFODateWeightedAverageCompute the cost assigned to ending inventory using FIFO.Goods PurchasedComplete this question by entering your answers in the tabs below.Lafnit.120 units235 units.Specific IdUnits Acquired at Cost@$51.40 per unit@ $56.40 per unit95 units.170 unitsCost per # of units620 unitsProblem 5-1A (Algo) Part 33. Compute the cost assigned to ending inventory using (a) FIFO, (b) LIFO., (c) weighted average, and (d) specific identification. Forspecific identification, units sold include 75 units from beginning inventory, 205 units from the March 5 purchase, 55 units from theMarch 18 purchase, and 95 units from the March 25 purchase.Saved@ $61.40 per unit@ $63.40 per unit.Perpetual FIFO:Cost of Goods SoldCost perCank of Condo SoldSUnits Sold at Retail# af unita280 units @ $86.40 per unit150 units @ $96.40 per unit430 unitsInventory BalanceCost perNextInventory

mework 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 Activities Beginning inventory Purchase Sales Purchase Purchase Sales Totals Problem 5-1A (Algo) Part 3 120 units 235 units Perpetual FIFO Perpetual LIFO Units Acquired at Cost @ $51.40 per unit @ $56.40 per unit 95 units 170 units Specific Id 620 units Weighted Average Compute the cost assigned to ending inventory using FIFO. Complete this question by entering your answers in the tabs below. Saved @ $61.40 per unit @ $63.40 per unit 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 75 units from beginning inventory, 205 units from the March 5 purchase, 55 units from the March 18 purchase, and 95 units from the March 25 purchase. Perpetual FIFO: Units Sold at Retail 280 units @ $86.40 per unit 150 units @ $96.40 per unit 430 units

mework 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 Activities Beginning inventory Purchase Sales Purchase Purchase Sales Totals Problem 5-1A (Algo) Part 3 120 units 235 units Perpetual FIFO Perpetual LIFO Units Acquired at Cost @ $51.40 per unit @ $56.40 per unit 95 units 170 units Specific Id 620 units Weighted Average Compute the cost assigned to ending inventory using FIFO. Complete this question by entering your answers in the tabs below. Saved @ $61.40 per unit @ $63.40 per unit 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 75 units from beginning inventory, 205 units from the March 5 purchase, 55 units from the March 18 purchase, and 95 units from the March 25 purchase. Perpetual FIFO: Units Sold at Retail 280 units @ $86.40 per unit 150 units @ $96.40 per unit 430 units

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 50E: Inventory Costing Methods Crandall Distributors uses a perpetual inventory system and has the...

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Beginning inventory, purchases, and sales for Item Gidget are as follows: Assuming a perpetual inventory system and using the last-in, first-out (LIFO) method, determine (a) the cost of merchandise sold on September 27 and (b) the inventory on September 30.
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Lower-of-cost-or market inventory Data on the physical inventory of Moyer Company as of December 31, 20Y9, are presented below. Quantity and cost data from the last purchases invoice of the year and the next-to-the-last purchases invoice are summarized as follows: Instructions Determine the inventory at cost and at the lower of cost or market, using the first-in, first-out method. Record the appropriate unit costs on an inventory sheet and complete the pricing of the inventory. When there are two different unit costs applicable to an item, proceed as follows: 1. Draw a line through the quantity, and insert the quantity and unit cost of the last purchase. 2. On the following line, insert the quantity and unit cost of the next-to-the-last purchase. 3. Total the cost and market columns and insert the lower of the two totals in the LCM column. The first item on the inventory sheet has been completed below as an example.