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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.
tabletableDateMarch Activities,Units,tablecquired at Cost$ per unitUnits Sold at RetailtableMarch March tableBeginning inventoryPurchasetable units units$ per unit,tableMarch March Sales.,,, units & $ per unittableMarch March Purchase, units,c per unit,tableMarch March tablePurchaseSales units,c $ per unit, units @$ per unitTotals, units,, units
Compute gross profit earned by the company for each of the four costing methods. 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.
Note: Round weighted average cost per unit to two decimals and final answers to nearest whole dollar.
tableGross Margin,FIFO,LIFO,tableWeightedAverageSpecific IDSalesLess: Cost of goods sold,,,,Gross profit,,,,
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