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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 following

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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 following purchases and sales transactions
for March.
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 50 ?units from beginning inventory, 180 ?units from the March 5 ?purchase, 30 ?units from the
March 18 ?purchase, and 70 ?units from the March 25 ?purchase.
Complete this question by entering your answers in the tabs below.
Perpetual FIFO Perpetual LIFO
Compute the cost assigned to ending inventory using LIFO.
[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
March 1
March 5
March 9
March 18
March 25
March 29
Activities
Beginning inventory
Purchase
Sales
Purchase
Purchase
Sales
Totals
Units Acquired at Cost
@ $50.40 ?per unit
@ $55.40 ?per unit
70 ?units 210 ?units @
210 ?units
70 ?units @ $60.40 ?per unit 120 ?units @$62.40 ?per unit
[70 ?units @$60.40 ?per unit ],[120 ?units @$62.40 ?per unit ]
470 ?units
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 50 ?units from beginning inventory, 180 ?units from the March 5 ?purchase, 30 ?units from the
March 18 ?purchase, and 70 ?units from the March 25 ?purchase.
Complete this question by entering your answers in the tabs below.
Compute the cost assigned to ending inve 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 transactions
for March.
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 50 ?units from beginning inventory, 180 ?units from the March 5 ?purchase, 30 ?units from the
March 18 ?purchase, and 70 ?units from the March 25 ?purchase.
Complete this question by entering your answers in the tabs below.
Compute the cost assigned to ending inventory using weighted average.
Note: Round your average cost per unit to 2 ?decimal places. 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 transactions
for March.
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 50 ?units from beginning inventory, 180 ?units from the March 5 ?purchase, 30 ?units from the
March 18 ?purchase, and 70 ?units from the March 25 ?purchase.
Complete this question by entering your answers in the tabs below.
Compute the cost assigned to ending inventory using specific identification. For specific identification, units sold include 50 ?units from beginning inventory, 180
units from the March 5 ?purchase, 30 ?units from the March 18 ?purchase, and 70 ?units from the March 25 ?purchase.ntory using FIFO.
image text in transcribed

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