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S Required information [The following information applies to the questions displayed below.] Warnerwoods Company uses a perpetual inventory system. It entered into the following purchases
S 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 March 1 March 5 March 9 March 18 March 25 March 29 Activities Beginning inventory Purchase Sales Purchase Purchase Sales Totals Perpetual FIFO Perpetual LIFO Units Acquired at Cost 190 units @ $52.80 per unit 270 units @ $57.80 per unit 130 units @ $62.80 per unit 240 units @ $64.80 per unit Complete this question by entering your answers in the tabs below. Goods Purchased 830 units Weighted Average Compute the cost assigned to ending inventory using FIFO. Specific Id 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 110 units from beginning inventory, 240 units from the March 5 purchase, 90 units from the March 18 purchase, and 130 units from the March 25 purchase. Perpetual FIFO: Cost of Goods Sold Units Sold at Retail ********** 350 units @ $87.80 per unit 220 units @ $97.80 per unit 570 units Inventory Balance
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