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Requirea information Problem 5-2AA (Algo) Periodic: Alternative cost flows LO P3 [The following information applies to the questions displayed below.] Warnerwoods Company uses a periodic
Requirea information Problem 5-2AA (Algo) Periodic: Alternative cost flows LO P3 [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. Date March 1 March 5 March 9 March 18 March 25 March 29 Activities Beginning inventory. Purchase Sales Purchase Purchase Sales Totals Problem 5-2AA (Algo) Part 4 Sales Less: Cost of goods sold Gross profit $ FIFO Units Acquired at Cost 130 units @ $65 per unit 430 units @ $70 per unit. For specific identification, units sold include 70 units from beginning inventory, 380 units from the March 5 purchase, 70 units from the March 18 purchase, and 150 units from the March 25 purchase. 0 $ 180 units @ $75 per unit 260 units @ $77 per unit LIFO 1,000 units A 4. Compute gross profit earned by the company for each of the four costing methods. Note: Round your average cost per unit to 2 decimal places and final answers to nearest whole dollar. Weighted Average 0 $ 0 Specific Identification $ Units Sold at Retail 0 450 units @ $100 per unit - 220 units @ $110 per unit 670 units
Nequirea intormation Problem 5-2AA (Algo) Periodic: Alternative cost flows LO P3 [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. For specific identification, units sold include 70 units from beginning inventory, 380 units from the March 5 purchase, 70 units from the March 18 purchase, and 150 units from the March 25 purchase. Problem 5-2AA (Algo) Part 4 4. Compute gross profit earned by the company for each of the four costing methods. Note: Round your average cost per unit to 2 decimal places and final answers to nearest whole dollar
Requirea information Problem 5-2AA (Algo) Periodic: Alternative cost flows LO P3 [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. Date March 1 March 5 March 9 March 18 March 25 March 29 Activities Beginning inventory. Purchase Sales Purchase Purchase Sales Totals Problem 5-2AA (Algo) Part 4 Sales Less: Cost of goods sold Gross profit $ FIFO Units Acquired at Cost 130 units @ $65 per unit 430 units @ $70 per unit. For specific identification, units sold include 70 units from beginning inventory, 380 units from the March 5 purchase, 70 units from the March 18 purchase, and 150 units from the March 25 purchase. 0 $ 180 units @ $75 per unit 260 units @ $77 per unit LIFO 1,000 units A 4. Compute gross profit earned by the company for each of the four costing methods. Note: Round your average cost per unit to 2 decimal places and final answers to nearest whole dollar. Weighted Average 0 $ 0 Specific Identification $ Units Sold at Retail 0 450 units @ $100 per unit - 220 units @ $110 per unit 670 units
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