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! Required information [ The following information applies to the questions displayed below. ] Warnerwoods Company uses a perpetual inventory system. It entered into the
Required information
The following information applies to the questions displayed below.
Warnerwoods Company uses a perpetual inventory system. It entered into the following purchases and sales transactio for March.
tableDateActivities,Units Acquired at costUnits Sold at RetailMarch Beginning inventory, units e $ per unit,March Purchase,e $ per unit,March Sales,,@ $ per unitMarch Purchase,e $ per unit,March Purchase, $ per unit,March Sales,,e $ per unitTotals units, units
Compute gross profit earned by the company for each of the four costing methods. For specific identification, units sold incl units from beginning inventory, units from the March purchase, units from the March purchase, and units from March purchase.
Note: Round weighted average cost per unit to decimal places.
tableGross Margin,FIFO,LIFO,Weighted Average,Specific IDSalesLess: Cost of goods sold,,,,Gross profit,,,,
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