Part $3$ of $4$

Problem $6-1$A $($Algo$)$ Perpetual: Alternative cost flows LO P$1$

$[$The following information applies to the questions displayed below.$]$

$23\mathrm{.}18$

points

eBlook $$

Ask

Print

References

Warnerwoods Company uses a perpetual inventory system. It entered into the following purchases and sales transactions for March.

$\backslash$table$[[$Date$,$Activities,Units,Acquired at cost$,$Units Sold at Retail$],[$March $1,$Beginning inventory,$190$ units,@ $$52\mathrm{.}80$ per unit,s$],[$March $5,$Purchase,$270$ units,@ $$57\mathrm{.}80$ per unit,$],[$March $9,$Sales,,,$350$ units @ $$87\mathrm{.}80$ per unit$],[$March $18,$Purchase,$130$ units,@$$62\mathrm{.}80$ per unit,$],[\backslash$table$[[$March $25],[$March $29]],\backslash$table$[[$Purchase$],[$Sales$]],240$ units,@$$64\mathrm{.}80$ per unit,$220$ units a $${97\mathrm{.}80}^{-}$oer unit$],[,$Totals,$830$ units,$,570$ units$]]$

Problem $6-1$A $($Algo$)$ Part $3$

$3.$ Compute the cost assigned to ending inventory using $($a$)$ FIFO, $($b$)$ LIFO, $($c$)$ weighted aqverage, and $($c$)$ specific identification. For specific identification, units sold include $110$ units from beginning Inventory, $240$ units from the March $5$ purchase, $90$ units from the March $18$ purchase, and $130$ units from the March $25$ purchase.

Complete this question by entering your answers in the tabs below.