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Compute the cost assigned to ending inventory using a. FIFO b. LIFO c. weighted average d. specific indentification. Problem 6-2AA (Static) Periodic: Alternative cost flows
Compute the cost assigned to ending inventory using a. FIFO b. LIFO c. weighted average d. specific indentification.
Problem 6-2AA (Static) Periodic: Alternative cost flows 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 transaction for March. For specific identification, units sold include 80 units from beginning inventory, 340 units from the March 5 purchase, 40 units from the March 18 purchase, and 120 units from the March 25 purchase. Problem 6-2AA (Static) Part 3 3. Compute the cost assigned to ending inventory using (a) FIFO, (b) LIFO, (c) weighted average, and (d) specific identification. (Rou your "average cost per unit" to 2 decimal places.) Step by Step Solution
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