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I need FIFO, LIFO, Weighted Average, Specific Id Required information [The following information applies to the questions displayed below.) Warnerwoods Company uses a perpetual inventory
I need FIFO, LIFO, Weighted Average, Specific Id
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 Units Sold at Retail Units acquired at Cost 110 units @ $51.20 per unit 230 units @ $56.20 per unit 270 units @ $86.20 per unit Date Activities Mar. 1 Beginning inventory Mar. 5 Purchase Mar 9 Sales Mar. 18 Purchase Mar. 25 Purchase Mar. 29 Sales Totals 90 units @ $61.20 per unit 160 units @ $63.20 per unit 140 units @ $96.20 per unit 410 units 590 units . Compute the cost assigned to ending inventory using (a) FIFO, (b) LIFO, (C) weighted average, and (d) specific identification. For pecific identification, the March 9 sale consisted of 70 units from beginning inventory and 200 units from the March 5 purchase; the March 29 sale consisted of 50 units from the March 18 purchase and 90 units from the March 25 purchase. Complete this question by entering your answers in the tabs below. Perpetual FIFO Perpetual LIFO Weighted Average Specific IdStep by Step Solution
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