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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 Units Acquired at Cost Units Sold at Retail March 1 March 5 March 9 March 18 March 25 March 29 Activities Beginning inventory 190 units @$52.80 per unit Purchase Sales Purchase Purchase Sales 270 units @$57.80 per unit 130 units @$62.80 per unit 240 units @$64.80 per unit 350 units @$87.80 per unit 220 units @$97.80 per unit Totals 830 units 570 units 3. 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 110 units from beginning inventory, 240 units from the March 5 purchase, 90 units from the March 18 purchase, and 130 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 Compute the cost assigned to ending inventory using FIFO.
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