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Required information Skip to question [ The following information applies to the questions displayed below. ] Warnerwoods Company uses a perpetual inventory system. It entered

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[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 Activities Units Acquired at Cost Units Sold at Retail
March 1 Beginning inventory 170 units @ $52.40 per unit
March 5 Purchase 260 units @ $57.40 per unit
March 9 Sales 330 units @ $87.40 per unit
March 18 Purchase 120 units @ $62.40 per unit
March 25 Purchase 220 units @ $64.40 per unit
March 29 Sales 200 units @ $97.40 per unit
Totals 770 units 530 units
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 100 units from beginning inventory, 230 units from the March 5 purchase, 80 units from the March 18 purchase, and 120 units from the March 25 purchase.

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