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[The following information applies to the questions displayed below.] Warnerwoods Company uses a periodic inventory system. It entered into the following purchases and sales transactions
[The following information applies to the questions displayed below.] Warnerwoods Company uses a periodic inventory system. It entered into the following purchases and sales transactions for March. For specific identification, the March 9 sale consisted of 40 units from beginning inventory and 430 units from the March 5 purchase; the March 29 sale consisted of 90 units from the March 18 purchase and 170 units from the March 25 purchase. equired: Compute cost of goods available for sale and the number of units available for sale. Required information [The following information applies to the questions displayed below.] Warnerwoods Company uses a periodic inventory system. It entered into the following purchases and sales transactions for March. For specific identification, the March 9 sale consisted of 40 units from beginning inventory and 430 units from the March 5 purchase; the March 29 sale consisted of 90 units from the March 18 purchase and 170 units from the March 25 purchase. 2. Compute the number of units in ending inventory. Warnerwoods Company uses a periodic inventory system. It entered into the following purchases and sales transactions for March. For specific identification, the March 9 sale consisted of 40 units from beginning inventory and 430 units from the March 5 purchase; the March 29 sale consisted of 90 units from the March 18 purchase and 170 units from the March 25 purchase. Compute the cost assigned to ending inventory using (a) FIFO, (b) LIFO, (c) weighted average, and (d) specific identification. te: Round your "average cost per unit" to 2 decimal places. \begin{tabular}{|l|l|l|l|l|l|l|l|l|l|} \hline c) Average Cost & \multicolumn{2}{|c|}{ Cost of Goods Available for Sale } & \multicolumn{3}{|c|}{ Cost of Goods Sold } & \multicolumn{3}{|c|}{ Ending Inventory } \\ \hline & \# of units & AverageCostperunit & CostofGoodsAvailableforSale & #ofunitssold & AverageCostperUnit & CostofGoodsSold & #ofunitsinendinginventory & AverageCostperunit & EndingInventory \\ \hline Beginning inventory & & & & & & & & & \\ \hline Purchases: & & & & & & & & & \\ \hline March 5 & & & & & & & & & \\ \hline March 18 & & & & & & & & & \\ \hline March 25 & & & & & & & & & \\ \hline Total & & & & & $ & 0 & & \\ \hline \end{tabular} Warnerwoods Company uses a periodic inventory system. It entered into the following purchases and sales transactions for March. For specific identification, the March 9 sale consisted of 40 units from beginning inventory and 430 units from the March 5 purchase; the March 29 sale consisted of 90 units from the March 18 purchase and 170 units from the March 25 purchase. 4. Compute gross profit earned by the company for each of the four costing methods. Note: Round your average cost per unit to 2 decimal places and final answers to nearest whole dollar
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