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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

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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 sales transactions for March Date Activities Units Acquired at Cost Units sold at Retail March 1 Beginning inventory 100 units esse per unit March 5 Purchase 400 units 555 per it March 9 Sales 428 units 585 per unit March 18 Purchase 120 units 56 per unit March 25 Purchase 200 units 562 per unit March 29 Sales 160 units 395 per unit Totals 820 units 580 units Required: 1. Compute cost of goods available for sale and the number of units available for sale. Cost of Goods Available for Sale Cost per Cost of Goode of units Unit Available for Sale Beginning Inventory Purchases March March 18 March 25 Total 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 Soldat Retail March 1 Beginning inventory 100 units $50 per unit March 5 Purchase 400 units @$55 per unit March 9 Sales 420 units 585 per unit March 18 Purchase 120 units 560 per unit March 25 Purchase 200 units $62 per unit March 29 Sales 160 units 595 per unit Totals 820 units 500 units 4. Compute gross profit earned by the company for each of the four costing methods. For specific identification, units sold include 80 units from beginning Inventory, 340 units from the March 5 purchase, 40 units from the March 18 purchase, and 120 units from the March 25 purchase. (Round weighted average cost per unit to 2 decimal places.) FIFO LIFO Weighted Average Specific ID Gross Margin Sales Las Cost of goods sold Gross profit

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