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specific id Required information The following information applies to the questions displayed below.) Warnerwoods Company uses a perpetual inventory system. It entered into the following
specific id
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 170 units @ 552.40 per unit March 5 Purchase 260 units @ $57.40 per unit March 9 Sales 330 units @ $87.40 per unit March 18 Purchase 120 units @ $62.40 per unit March 25 Purchase 220 units @ $64.40 per unit March 29 Sales 200 units @ $97.40 per unit Totals 770 units 530 units 3. Compute the cost assigned to ending inventory using (a) FIFO. (6) LIFO. (c) weighted average, and (c) specific identification. For specific identification, units sold include 100 units from beginning inventory 230 units from the March 5 purchase, 80 units from the March 18 purchase, and 120 units from the March 25 purchase Complete this question by entering your answers in the tabs below. Weighted Average Specific Id Perpetual FIFO Perpetual LIFO Weighted Average Specific Id Perpetual FIFO Perpetual LIFO Goods Sold in ending Compute the cost assigned to ending inventory using specific identification. For specific identification, units sold include 100 units from beginning in units from the March 5 purchase, 80 units from the March 18 purchase, and 120 units from the March 25 purchase. Specific Identification Goods Available for Sale Cost of Goods Sold Ending Inventory Dato Cost of Goods Cost per of units Cost per of units Cost of Cost per Ending # of units unit Available for unit sold unit Inventory Sale Inventory March 1 $ 0 $ 0.00 $ 0 $ 0.00 $ March 5 0.00 0 0.00 March 18 0 0.00 0 0.00 March 25 0 0.00 0 S 0 Total $ 0 0 0 $ OOD Step by Step Solution
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