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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 for March. Date Mar. Mar Activities 1 Beginning inventory 5 Purchase Mar. 9 Sales Mar 18 Purchase Mar. 25 Purchase Mar 29 Sales Totals Units Acquired at Cost 230 units @ $53.60 per unit 290 units @ $58.60 per unit 150 units @ $63.60 per unit 280 units @ $65.60 per unit 950 units Units Sold at Retail 390 units @ $88.60 per unit 260 units @ $98.60 per unit 650 units Compute the cost assigned to ending inventory using (a) FIFO, (b) LIFO, (c) weighted average, and (d) specific iden pecific identification, the March 9 sale consisted of 130 units from beginning inventory and 260 units from the March March 29 sale consisted of 110 units from the March 18 purchase and 150 units from the March 25 purchase.
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