Problem 6-1A (Algo) 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. Problem 6-1A (Algo) Part 4 Compute gross profit earned by the company for each of the four costing methods. For specific identification, units sold include 120 Inits from beginning inventory, 250 units from the March 5 purchase, 100 units from the March 18 purchase, and 140 units from the Aarch 25 purchase. Note: Round weighted average cost per unit to two decimals and final answers to nearest whole dollar. Required information Problem 6-1A (Algo) 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. \begin{tabular}{|l|l|l||} \hline Perpetual FIFO Perpetual LIFO & WeightedAverage & Specific Id \\ \hline \end{tabular} Compute the cost assigned to ending inventory using FIFO. Perpetual LIFO 3. Compute the cost assigned to ending inventory using (a) FIFO, (b) LIFO, (c) weighted average, and ( a ) specific identification. For specific identification, units sold include 120 units from beginning inventory, 250 units from the March 5 purchase, 100 units from the March 18 purchase, and 140 units from the March 25 purchase. Complete this question by entering your answers in the tabs below. Compute the cost assigned to ending inventory using LIFO. 3. Compute the cost assigned to ending inventory using (a). FIFO. (b) LIFO. (c) weighted average, and ( d ) specific identification. For specific identification, units sold include 120 units from beginning inventory, 250 units from the March 5 purchase, 100 units from the March 18 purchase, and 140 units from the March 25 purchase. Complete this question by entering your answers in the tabs below. Compute the cost assigned to ending inventory using weighted average. Note: Round your average cost per unit to 2 decimal places. Problem 6-1A (Algo) 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, units sold include 120 units from beginning inventory, 250 units from the March 5 purchase, 100 units from the March 18 purchase, and 140 units from the March 25 purchase. Complete this question by entering your answers in the tabs below. Compute the cost assigned to ending inventory using specific identification. For specific identification, units sold include 120 units from beginning inventory, 250 units from the March 5 purchase, 100 units from the March 18 purchase, and 140 units from the March 25 purchase
