Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Check my work Part 3 of 4 Required information Problem 6-1A Perpetual: Alternative cost flows LO P1 [The following information applies to the questions displayed

image text in transcribed

image text in transcribed

image text in transcribed

image text in transcribed

image text in transcribed

image text in transcribed

Check my work Part 3 of 4 Required information Problem 6-1A Perpetual: Alternative cost flows LO P1 [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 37 oints Units Sold at Retail Units Acquired at Cost 150 units @ $52.00 per unit 250 units @ $57.00 per unit eBook Date Activities Mar. 1 Beginning inventory Mar. 5 Purchase Mar. 9 Sales Mar. 18 Purchase Mar. 25 Purchase Mar. 29 Sales Totals 310 units @ $87.00 per unit 110 units @ $62.00 per unit 200 units @ $64.00 per unit Print 710 units 180 units @ $97.00 per unit 490 units Problem 6-1A Part 3 3. Compute the cost assigned to ending inventory using (a) FIFO, (b) LIFO. (c) weighted average, and (d) specific identification. For specific identification, the March 9 sale consisted of 90 units from beginning inventory and 220 units from the March 5 gurchase; the March 29 sale consisted of 70 units from the March 18 purchase and 110 units from the March 25 purchase. Complete this question by entering your answers in the tabs below. Part 3 of 4 3. Compute the cost assigned to ending inventory using (a) FIFO, (b) LIFO. (c) weighted average, and (d) specific identification. For specific identification, the March 9 sale consisted of 90 units from beginning inventory and 220 units from the March 5 purchase; the March 29 sale consisted of 70 units from the March 18 purchase and 110 units from the March 25 purchase. 0.37 points Complete this question by entering your answers in the tabs below. Perpetual FIFO Perpetual LIFO eBook Weighted Average Specific Id Compute the cost assigned to ending inventory using LIFO. Print Perpetual LIFO: Goods Purchased # of Cost per units unit Cost of Goods Sold # of units Cost per cost of Goods Sold sold unit Date Inventory Balance # of units Cost per Inventory unit Balance 150 @ $ 52.00 = $ 7,800.00 March 1 March 5 March 9 March 18 Me Graw Hill Check my work 3 Required information March 1 150 @ $ 52.00 = $ 7,800.00 Part 3 of 4 March 5 0.37 points March 9 Book March 18 Print March 25 March 29 Totals 0.00 3 Part 3 of 4 Required information Problem 6-1A Perpetual: Alternative cost flows LO P1 (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 0.37 points Units Sold at Retail Units Acquired at Cost 150 units @ $52.00 per unit 250 units @ $57.00 per unit eBook 310 units@ $87.00 per unit Date Activities Mar. 1 Beginning inventory Mar. 5 Purchase Mar. 9 Sales Mar. 18 Purchase Mar. 25 Purchase Mar. 29 Sales Totals 110 units @ $62.00 per unit 200 units @ $64.00 per unit 180 units @ $97.00 per unit 490 units Print 710 units Problem 6-1A Part 3 3. Compute the cost assigned to ending inventory using (a) FIFO, (b) LIFO. (c) weighted average, and (d) specific identification. For specific identification, the March 9 sale consisted of 90 units from beginning inventory and 220 units from the March 5 purchase; the March 29 sale consisted of 70 units from the March 18 purchase and 110 units from the March 25 purchase. Complete this question by entering your answers in the tabs below. Perpetual FIFO Perpetual LIFO Weighted Average Specific Id Problem 6-1A Part 3 Part 3 of 4 3. Compute the cost assigned to ending inventory using (a) FIFO. (b) LIFO. (c) weighted average, and (d) specific identification. For specific identification, the March 9 sale consisted of 90 units from beginning inventory and 220 units from the March 5 purchase; the March 29 sale consisted of 70 units from the March 18 purchase and 110 units from the March 25 purchase. 0.37 points Complete this question by entering your answers in the tabs below. eBook Perpetual FIFO Perpetual LIFO Weighted Average Specific Id Compute the cost assigned to ending inventory using weighted average. (Round your average cost per unit to 2 decimal places.) Print Weighted Average Perpetual: Goods Purchased # of Cost per Date units unit March 1 Cost of Goods Sold Inventory Balance # of units Cost per Inventory Balance sold unlt Cost of Goods Sold # of units unit 150 @ $ 52.00 - $ 7.800.00 March 5 Average March 9 March 18 Average March 25 Graw Hill 3 0 Required information Part 3 of 4 Perpetual FIFO Perpetual LIFO Weighted Average Specific id Compute the cost assigned to ending inventory using weighted average. (Round your average cost per unit to 2 decimal places.) 0.37 points Weighted Average Perpetual: Goods Purchased Date # of units unit March 1 Cost per Cost of Goods Sold Inventory Balance # of units Cost per Cost per Inventory Balance sold unit Cost of Goods Sold of units unit 150 @ $ 52.00 - $ 7,800.00 oBook March 5 Print Average March 9 March 18 Average March 25 March 29 Totals 0.00 Mc Graw Hill

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Advanced Audit And Assurance The Auditors Bible

Authors: Nhyira Premium IBL

1st Edition

B0BCXSXSJ7, 979-8829719432

More Books

Students also viewed these Accounting questions

Question

What is a verb?

Answered: 1 week ago

Question

socialist egalitarianism which resulted in wage levelling;

Answered: 1 week ago

Question

soyuznye (all-Union, controlling enterprises directly from Moscow);

Answered: 1 week ago