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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
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.
tableDateActivities,Units,Acquired at Cost,Units Sold at RetailtableMarch March tableBeginning inventoryPurchase units,a $ per unit,March Sales, units,@ $ per unit, units a $ per unitMarch Purchase, units,a $ per unit,S unils a $ per unittableMarch March tablePurchaseSales units,a $ per unit,Totals, units,, 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 units from beginning inventory, units from the March purchase, units from the March purchase, and units from the March purchase.
Complete this question by entering your answers in the tabs below.
Perpetual FIFO Perpetual LIFO
Weighted
Average
Compute the cost assigned to ending inventory using FIFO.
tablePerpetual FIFO:DateGoods Puhased,Cost of Goods Sold,Inventory Balance# of units,tableCost perunittable# of unitssoldtabletableCost perunitCost of Goods Sold,# of units,tabletableCost perunit$
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