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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 Units Sold at Retail March 1 March 5 Activities Beginning inventory Purchase March 9 Sales March 18 Purchase March 25 March 29 Purchase Sales Units Acquired at Cost 210 units @$53.20 per unit 280 units @$58.20 per unit 140 units @$63.20 per unit 260 units $65.20 per unit 370 units @$88.20 per unit Totals 890 units 240 units @ $98.20 per unit 610 units 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 120 units from beginning inventory and 250 units from the March 5 purchase; the March 29 sale consisted of 100 units from the March 18 purchase and 140 units from the March 25 purchase. Part 3 of 4 Perpetual FIFO Perpetual LIFO Weighted Average 0.5 points Specia Compute the cost assigned to ending inventory us Specific Identification. For specific identification, the March 9 sale consisted of 120 units from beginning inventory and 250 units from the March 5 purchase; the March 29 sale consisted of 100 units from the March 18 purchase and 140 units from the March 25 purchase. Specific Identification: Date 14 Pint References h1 March 1 March 5 Total March 5 Match 9 Total March 91 March 18 Total March 18 March 25 Total March 25 March 29 Total March 29 Totals Goods Purchased Cost of Goods Sold Inventory Balance of units Cost per unit of units sold Cost per unit Cost of Goods Sold of units Cost per unit Inventory Balance 210 $53.20 $ 11,172.00 Weighted Average
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