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I need LIFO netp The following information applies to the questions displayed below] Warnerwoods Company uses a periodic inventory system. It entered into the following
I need LIFO
netp The following information applies to the questions displayed below] Warnerwoods Company uses a periodic inventory system. It entered into the following purchases and sales transactions for March Units sold at Retail Date Activities Mar. 1 Beginning inventory Mar. 5 Purchase Mar 9 Sales Mar. 18 Purchase Mar. 25 Purchase Mar. 29 Sales Totals Units Acquired at Cost 100 units@ $50 per unit 400 units @ $55 per unit 120 units@ $60 per unit 200 units @ $62 per unit 420 units $85 per unit 820 units 160 units 595 per unit 580 units For specific identification, the March 9 sale consisted of 80 units from beginning inventory and 340 units from the March 5 purchase, the March 29 sale consisted of 40 units from the March 18 purchase and 120 units from the March 25 purchase. Problem 5-1A (Static) Part 4 4. Compute gross profit earned by the company for each of the four costing methods. (Round your average cost per unit to 2 decimal places and final answers to nearest whole dollar.) ook int ences LIFO Weighted Specific Average Identification 50,900.00 $ 50.900.00 $ 50.900.00 $ Sales Less: Cost of goods sold Gross profit FIFO 50,900,000 $ 31.800.00 19.100.00 $ $ 50.900.00 $ 50 900.00 $ 50, 90000 Step by Step Solution
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