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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 Date Activities Units Acquired at Cost 200 units $53.00 per unit 275 units@ $58.00 per unit Units Sold at Retail Mar. 1 Beginning inventory Mar. 5 Purchase Mar. 9 Sales Mar. 18 Purchase Mar. 25 Purchase Mar. 29 Sales 360 units@ $88.00 per unit 135 units $63.00 per unit 250 units $65.00 per unit 230 units $98.80 per unit Totals 860 units 590 unit:s Problem 6-1A Part 3 3. Compute the cost assigned to ending inventory using (a) FIFO. (bj LIFO, (c) weighted average, and (d) specific identification For specific identification, the March 9 sale consisted of 115 units from beginning inventory and 245 units from the March 5 purchase the March 29 sale consisted of 95 units from the March 18 purchase and 135 units from the March 25 purchase Complete this questions by entering your answers in the below tabs
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