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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
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 Mar. Activities Mar. 1 Beginning inventory 5 Purchase Units Acquired at Cost 100 units @ $63.00 per unit 400 units $68.00 per unit Units Sold at Retail Max. 9 Sales Mar. 18 Purchase Mar. 25 Purchase Mar. 29 Sales. 420 units $98.00 per unit 120 unita e $73.00 per unit 200 units $75.00 per urit Totals 820 units 160 units @ $108.00 per unit 580 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 80 units from beginning inventory and 340 units from the March 5 purchase; the March 29 sale consisted of 40 units from the March 18 purchase and 120 units from the March 25 purchase. Complete this question by entering your answers in the tabs below. Perpetual FIFO Perpetual LIFO Weighted Average Specific Id
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