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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
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 Activities Beginning inventory Units Acquired at Cost 140 unitse 551.80 per 245 units $56.80 per Units Sold at Retail Date Mar. 1 Mar. 5 Purchase Mar. 9 Sales Mar.18 Purchase Mar.25 Purchase Mar. 29 Sales unit 300 units $86.80 per unit G $61.80 per 105 units unit 190 units $63.80 per 170 unitse 596.80 per unit Totals 680 units 470 units 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 85 units from beginning inventory and 215 units from the March 5 purchase; the March 29 sale consisted of 65 units from the March 18 purchase and 105 units from the March 25 purchase
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