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Problem 6-1A Perpetual: Alternative cost flows LO P1 The following information applies to the questions displayed below) Warnerwoods Company uses a perpetual inventory system. It
Problem 6-1A Perpetual: Alternative cost flows LO P1 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 68 units@ $50.20 per unit 205 units $55.20 per unit 220 unitse $85.20 per unit Date Activities Mar. 1 Beginning inventory Mar 5 Purchase Mar. 9 Sales Mar. 18 Purchase Mar. 25 Purchase Mar. 29 Sales Totals 65 units $60.20 per unit 118 units $62.20 per unit 90 units $95.20 per unit 310 units 440 units Problem 6-1A Part 3 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 45 units from beginning inventory and 175 units from the March 5 purchase the March 29 sale consisted of 25 units from the March 18 purchase and 65 units from the March 25 purchase
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