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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
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. Required: 1. Compute cost of goods available for sale and the number of units available for sale. 2. Compute the number of units in ending inventory. 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 125 units from beginning inventory, 255 units from the March 5 purchase, 105 units from the March 18 purchase, and 145 units from the March 25 purchase. Complete this question by entering your answers in the tabs below. Compute the cost assigned to endina inventory using FIFO. - 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 125 units rom beginning inventory. 255 units from the March 5 purchase. 105 units from the March 18 purchase, and 145 units from the March 25 purchase. Complete this question by entering your answers in the tabs below. Compute the cost assigned to ending inventory using LIFO. 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 125 unit rom beginning inventory, 255 units from the March 5 purchase, 105 units from the March 18 purchase, and 145 units from the March 25 purchase. Complete this question by entering your answers in the tabs below. Compute the cost assigned to ending inventory using weighted average. Note: Round your average cost per unit to 2 decimal places. 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 125 units from beginning inventory. 255 units from the March 5 purchase, 105 units from the March 18 purchase, and 145 units from the March 25 purchase. Complete this question by entering your answers in the tabs below. Compute the cost assigned to ending inventory using specific identification. For specific identification, units sold include 125 units from be units from the March 5 purchase, 105 units from the March 18 purchase, and 145 units from the March 25 purchase. 4. Compute gross profit earned by the company for each of the four costing methods. For specific identification, units sold include 125 units from beginning inventory. 255 units from the March 5 purchase, 105 units from the March 18 purchase, and 145 units from the March 25 purchase. Note: Round welghted average cost per unlt to two declmols and finol answers to nearest whole dollar
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