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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

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 150 units @ $52.00 per unit
March 5 Purchase 250 units @ $57.00 per unit
March 9 Sales 310 units @ $87.00 per unit
March 18 Purchase 110 units @ $62.00 per unit
March 25 Purchase 200 units @ $64.00 per unit
March 29 Sales 180 units @ $97.00 per unit
Totals 710 units 490 units

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Compute the cost assigned to ending inventory using LIFO. Goods Purchased Date # of units # of units sold March 1 March 5 Total March 5 March 9 Total March 9 March 18 Total March 18 March 25 Total March 25 March 29 Total March 29 Totals Cost per unit Perpetual LIFO: Cost of Goods Sold Cost per Cost of Goods Sold unit # of units 150 at Inventory Balance $ 7,800.00

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