Question
Warner woods company usurps a perpetual inventory system. It entered into the following purchases and sales transactions for March. March 1st beginning inventory 100 units
Warner woods company usurps a perpetual inventory system. It entered into the following purchases and sales transactions for March. March 1st beginning inventory 100 units at 50 per unit March 5 purchases 400 units at 55 per unit March 9 sells 400 units at 85 per unit March 18. Purchased 100 units at 60 per unit March 25 purchase 200 units at 62 per unit March 29 sales 160 units at 95 per unit totals 820 units acquired units sold 580 units. Compute the cost assigned to the ending inventory using FIFO weighted average and specific identification. For specific identification, the March 9 sale consisted of 80 units from the beginning inventory and 340 units from the March 5 purchase in the March 29 cell consisted of 40 units from the March 18 purchase in 100 units from the March 25 purchase. Complete the question by entering the answers in the table.
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