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Requlred 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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Requlred 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. Units Sold at Retail Units Acquired at Cost 190 units@ $52. 80 per unit 270 units@ $57. 80 per unit 350 units@ $87. 80 per unit Date Activities Mar. 1 Beginning inventory Mar. 5 Purchase Mar. 9 Sales Mar. 18 Purchase Mar. 25 Purchase Mar. 29 Sales Totals 130 units@ $62. 80 per unit 240 units@ $64. 80 per unit 220 units@ $97. 80 per unit 570 units 830 units 3. Compute the cost assigned to ending inventory using (a) FIFO. (b) LIFO. (c) weighted average, and (d) specific identification. For specific identification, the March 9 sale consisted of 110 units from beginning inventory and 240 units from the March 5 purchase: the March 29 sale consisted of 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 Perpetual Weighted Specific Id FIFO L IFO Average Compute the cost assigned to ending inventory using LIFO. Cost of Goods Sold Perpetual LIFO: Goods Purchased Cost # of Date units per unit Cost Cost of Goods Inventory Balance Cost Inventory # of units per Balance unit sold per Sold unit March 1 | 190 @ 52.80 = 10,032.00 March 5 March 9 March 18 March 25 TU T TI

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