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Problem 5-1A (Algo) Perpetual: Alternative cost flows LO P3 [The following information applies to the questions displayed below.] Warnerwoods Company uses a perpetual inventory system.
Problem 5-1A (Algo) Perpetual: Alternative cost flows LO P3 [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. Problem 5-1A (Algo) Part 1 Required: Compute cost of goods available for sale and the number of units available for sale. 2. Compute the number of units in ending inventory. Comoute the cost assianed to endina inventorv usina FIFO. Compute the cost assigned to ending inventory using LIFO. \begin{tabular}{l|l|l} Perpetual FIFO Perpetual LIFO & WeightedAverage & Specific Id \\ \hline \end{tabular} Compute the cost assigned to ending inventory using specific identification. For specific identification, units sold include 140 units from beginning inventory, 270 units from the March 5 purchase, 120 units from the March 18 purchase, and 160 units from the March 25 purchase. Specific Identification: 4. Compute gross profit earned by the company for each of the four costing methods. For specific identification, units sold include 140 units from beginning inventory, 270 units from the March 5 purchase, 120 units from the March 18 purchase, and 160 units from he March 25 purchase. (Round weighted average cost per unit to two decimals and final answers to nearest whole dollar.)
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