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please help on question 9 Required information (The following information applies to the questions displayed below.) Warnerwoods Company uses a periodic inventory system. It entered
please help on question 9
Required information (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 Date nativities Units Required at Cost Units sold at Retail Mar. 1 Beginning inventory 185 units $75 per unit Mar. 5 Purchase 485 units $80 per unit Mar. 9 Sales 505 units & $110 per unit Mar. 18 Purchase 290 units $85 per unit Mar 25 Purchase 370 units $67 per unit Mar 29 Sales 236 units $120 per unit Totals 1.330 units 835 units For specific identification, the March 9 sale consisted of 40 units from beginning inventory and 465 units from the March 5 purchase the March 29 sale consisted of 125 units from the March 18 purchase and 205 units from the March 25 purchase 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.) FIFO LIFO Weighted Average Specific Identification Sales Less: Cost of goods sold Gross profit Step by Step Solution
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