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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: Activities Units Acquired at Cost Units Sold at Retail March 1 Beginning inventory 120 units March 5) Purchase 235 units $51.40 per unit $56.40 per unit March 9 March 18 Sales 280 units $86.40 per unit Purchase 95 units March 25 March 29 Sales Totals Purchase 170 units 620 units $61.40 per unit $63.40 per unit 150 units $96.40 per unit 430 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 75 units from beginning inventory, 205 units from the March 5 purchase, 55 units from the March 18 purchase, and 95 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. Gande Durchscad Perpetual FIEO: Cost of Goode Sold Inventoru Ralance
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