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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
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. Date March 1 March 5 March 9 March 18 March 25 March 29 Activities Beginning inventory Purchase Sales Purchase Purchase Sales Totals Perpetual ELEO D Units Acquired at Cost 60 units 205 units 65 units 110 units 440 units @ $50.20 per unit @ $55.20 per unit @ $60.20 per unit @ $62.20 per unit Complete this question by entering your answers in the tabs below. Units Sold at Retail 220 units @ $85.20 per unit 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 45 units from beginning inventory, 175 units from the March 5 purchase, 25 units from the March 18 purchase, and 65 units from the March 25 purchase. 90 units @ $95.20 per unit 310 units
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