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Problem 6-2AA Periodic: Alternative cost flows LOP3 [The following information applies to the questions displayed below.) Warnerwoods Company uses a periodic inventory system. It entered
Problem 6-2AA Periodic: Alternative cost flows LOP3 [The following information applies to the questions displayed below.) Warnerwoods Company uses a periodic inventory system. It entered into the following purchases and sales transactions for March 135 units @ $70 per 435 units @ $75 per 455 units unit Date Activities Units Acquired at Cost Units Sold at Retail Mar. 1 Beginning inventory unit Mar. 5 Purchase unit Mar. 9 Sales @ $105 per Mar. 18 Purchase unit Mar.25 Purchase 270 units @ $82 per unit Mar.29 Sales unit Totals 1,030 units 685 units 190 units@ $80 per 23e units@ $115 per For specific identification, the March 9 sale consisted of 80 units from beginning inventory and 375 units from the March 5 purchase the March 29 sale consisted of 75 units from the March 18 purchase and 155 units from the March 25 purchase. Problem 6-2AA Part 4 4 4. Compute gross profit earned by the company for each of the four costing methods. (Round your average cost per unit to 2 decimal places and final answers to nearest whole dollar.) FIFO LIFO Weighted Specific Average Identification Sales Less: Cost of goods sold Gross profit $ 0 $ 0 $ 0 $
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