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Required information Problem 6-1A Perpetual: Alternative cost flows LO P1 [The following information applies to the questions displayed below. 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 below. Warnerwoods Company uses a perpetual inventory system. It entered into the following purchases and sales tra for March Activities Units Acquired at Cost 120 units $51.40 per unit 235 units $56.40 per unit Units Sold at Retail Date Mar. 1 Beginning inventory Mar5 Purchase Mar. 9 Sales Mar. 18 Purchase Mar. 25 Purchase Mar. 29 Sales 280 units $86.40 per unit 95 units$61.40 per unit 170 units $63.40 per unit 150 units $96.40 per unit 430 units Totals 620 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 75 units from beginning inventory and 205 units from the March 5 purchase; the March 29 sale consisted of 55 units from the March 18 purchase and 95 units from the March 25 purchase
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