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Please help with homework problem! Required information [The following information applies to the questions displayed below] Warnerwoods Company uses a perpetual inventory system, It entered
Please help with homework problem!
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. Compute the cost assigned to ending inventory using (a) FIFO, (b) LFO, (c) weighted average, and ( ( ) specific identification. For pecific identification, units sold include 75 units from beginning inventory, 205 units from the March 5 purchase, 55 units from the Aarch 18 purchase, and 95 units from the March 25 purchase. Compute the cost assigned to ending inventory using weighted averege. Note: Round your average cost per unit to 2 decimal places. Compute the cost assigned to ending inventory using specific Identification. For specific identification, units sold include 75 units from beginning units from the March 5 purchase, 55 units from the March 18 purchase, and 95 units from the March 25 purchase. 4. Compute gross profit earned by the company for each of the four costing methods. For specific identification, units sold include 75 units from beginning inventory, 205 units from the March 5 purchase, 55 units from the March 18 purchase, and 95 units from the March 25 purchase. Note: Round welghted average cost per unit to two decimals and final answers to nearest whole dollar Step by Step Solution
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