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5 12 of 2 Required information [The following information applies to the questions displayed below] Warnerwoods Company uses a perpetual inventory system. It entered
5 12 of 2 Required information [The following information applies to the questions displayed below] Warnerwoods Company uses a perpetual inventory system. It entered into the following purchases and sales transactions for March, nts paddas elook Date March 9 March 18 March 25 March 29 Sales Totals March 1 March 5 Bales Purchase Purchase Activities Beginning inventory Purchase Units Acquired at Cost Units sold at Retail 210 unite 280 units 140 units 260 units $53.20 per unit $50.20 per unit $63.20 per unit $65.20 per unit 370 units $88.20 per unit 890 units 240 unita 598.20 per unit 610 units 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 120 units from beginning inventory, 250 units from the March 5 purchase, 100 units from the March 18 purchase, and 140 units from the March 25 purchase.
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