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Required information Problem 6-1A Perpetual: Alternative cost flows LO P1 [The following information applies to the questions displayed belowj Warnerwoods Company uses a perpetual inventory
Required information Problem 6-1A Perpetual: Alternative cost flows LO P1 [The following information applies to the questions displayed belowj Warnerwoods Company uses a perpetual inventory system. It entered into the following purchases and sales transactions for March. Activities Units Acquired at Cost 250 units $54.00 per unit 300 units $59.00 per unit Units Sold at Retail Date Mar. 1 Beginning inventory Mar.5 Purchase Mar. 9 Sales Mar. 18 Purchase Mar. 25 Purchase Mar. 29 Sales 410 units $89.00 per unit 160 units$64.00 per unit 300 units $66.00 per unit 280 units$99.00 per unit 690 units Totals 1,010 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 140 units from beginning inventory and 270 units from the March 5 purchase, the March 29 sale consisted of 120 units from the March 18 purchase and 160 units from the March 25 purchase
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