Question
Beginning inventory Purchase 130 units 240 units Warnerwoods Company uses a perpetual inventory system. It entered into the following purchases and sales transactions for
Beginning inventory Purchase 130 units 240 units Warnerwoods Company uses a perpetual inventory system. It entered into the following purchases and sales transactions for March. Date March 1 March 5 Activities Units Acquired at Cost $51.60 per unit Units Sold at Retail $56.60 per unit March 9 March 18 March 25 March 29 Sales Purchase Purchase Sales 290 units $86.60 per unit 100 units 180 units $61.60 per unit $63.60 per unit Totals 650 units 160 units $96.60 per unit 450 unite ompute gross profit earned by the company for each of the four costing methods. For specific identification, units sold include 80 s from beginning inventory, 210 units from the March 5 purchase, 60 units from the March 18 purchase, and 100 units from the ch 25 purchase. (Round weighted average cost per unit to two decimals and final answers to nearest whole dollar.) Gross Margin ss: Cost of goods sold ross profit FIFO LIFO Weighted Average Specific ID
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