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Required Information Problem 5-1A (Algo) Periodic: Alternative cost flows LO P1 The following information applies to the questions displayed below) Warnerwoods Company uses a periodic
Required Information Problem 5-1A (Algo) Periodic: Alternative cost flows LO P1 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 Activities Units Acquired at Cost Units sold at Retail 1 Beginning inventory 120 units 555 per unit 5 Purchase 420 units 560 per unit 9 Sales 44 units @ $90 per unat Mar. 18 Purchase 160 units 565 per unit 240 units @ 567 per unit 200 units 5100 per unit bate Mar Mar Mar Mar 25 Purchase Mar. 29 Sales Totals 946 units 640 units For specific identification, the March 9 sale consisted of 40 units from beginning inventory and 400 units from the March 5 purchase the March 29 sale consisted of 60 units from the March 18 purchase and 140 units from the March 25 purchase. Problem 5-1A (Algo) Part 3 3. Compute the cost assigned to ending Inventory using (a) FIFO. (b) LIFO. (c) weighted average, and () specific identification (Round your "average cost per unit" to 2 decimal places.)
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