Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

please help !! Required Information Problem 6-1A Perpetual: Alternative cost flows LO P1 [The following information applies to the questions displayed below.) Warnerwoods Company uses

please help !! image text in transcribed
image text in transcribed
image text in transcribed
image text in transcribed
image text in transcribed
Required Information Problem 6-1A Perpetual: Alternative cost flows LO P1 [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 Date Activities Units Acquired at Cont Unite sold at Retail Mar. 1 Beginning inventory 180 units @ $52.60 per unit Mar. 5 Purchase 265 units @ $57.60 per unit Mar. 9 Sales 340 units $87.60 per unit Mar. 18 Purchase 125 units e $62.60 per unit Mar. 25 Purchase 230 units @ $64.60 per unit 210 units $97.60 per unit Totale 800 units 550 units Mar. 29 Salon Problem 6-1A Part 3 3. Compute the cost assigned to ending inventory using (a) FIFO. (b) LIFO. (c) weighted average, and (d) specific identification. For specific identification, the March 9 sale consisted of 105 units from beginning inventory and 235 units from the March 5 purchase; the March 29 sale consisted of 85 units from the March 18 purchase and 125 units from the March 25 purchase. Complete this question by entering your answers in the tabs below. Weighted Average Specific id Perpetual FIFO Perpetual LIFO 3 Required information Perpetual FIFO Perpetual LIFO Weighted Average Part 3 of 4 Specific id Compute the cost assigned to ending Inventory using FIFO. 25 points Perpetual FIFO: Stepped Goods Pechased Fol Coat per unit of units sold Cost of Goods Sold Cost per cost of Goods Sold unit Inventory Balance of units Cost per wanitary unit Batanes 180 $ 52.00 $9.488.00 March 1 March 5 eBook Print March References March 18 March 25 March 29 0.00 Totais Perpetual LIFO > 3 Required information Perpetual FIFO Perpetual UFO Part 3 of 4 Weighted Average Specific Id Compute the cost assigned to ending Inventory using LIFO. 25 point Perpetual LIFO Skipped of Coete Castel Goods Sold of units Coat por sold un Cost of Goods Sold uns 180 @ $52.60 $ 9.459.00 March 5 eBook Print March - References March 18 March 25 + March 29 Totals $ 0.00 3 Required information of 4 Perpetual FIFO Perpetual LIFO Weighted Average Specificid Compute the cost assigned to ending Inventory using specific identification for specific Identification, the March 9 sale consisted of 105 units from beginning inventory and 235 units from the March 5 purchase; the Marth 29 sale consisted of 85 units from the March 18 purchase and 125 units from the March 25 purchase Specifice Identification: Good Purchased Cost per units unit March 1 Coat of Goods Sold of units Cost per Cost of Goods sold unit Sold Inventory Bence of unite Coat unt 180 $52.00 9,468.00 March 5 + March 9 March 18 March 25 March 29 0.00 Totais

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Accountability Ethics And Sustainability Of Organizations

Authors: Sandro Brunelli, Emiliano Di Carlo

3rd Edition

3030311929, 9783030311926

More Books

Students also viewed these Accounting questions

Question

Outline four general characteristics of Wundts thought.

Answered: 1 week ago