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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
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. Date March 1 March 5 March 9 March 18 March 25 March 29 Activities Beginning inventory Purchase Sales Purchase Purchase Sales Totals Perpetual FIFO Perpetual LIFO Units Acquired at Cost 70 units 210 units Weighted Average 70 units 120 units 470 units @$50.40 per unit @$55.40 per unit Complete this question by entering your answers in the tabs below. Specific Id @ $60.40 per unit @ $62.40 per unit 3. Compute the cost assigned to ending inventory using (a) FIFO, (b) LIFO, (c) weighted average, and (d) specific identification. For specific identification, the March 9 sale consisted of 50 units from beginning inventory and 180 units from the March 5 purchase; the March 29 sale consisted of 30 units from the March 18 purchase and 70 units from the March 25 purchase. Units Sold at Retail 230 units @ $85.40 per unit 100 units @ $95.40 per unit 330 units
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