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Warnerwoods Company uses a periodic inventory system. It entered into the following purchases and sales transactions for March. ( For specific identification, the March 9
Warnerwoods Company uses a periodic inventory system. It entered into the following purchases and sales transactions for
March. For specific identification, the March sale consisted of units from beginning inventory and units from the
March purchase; the March sale consisted of units from the March purchase and units from the March
purchase.
Required
Compute cost of goods available for sale and the number of units available for sale.
Compute the number of units in ending inventory.
Compute the cost assigned to ending inventory using a FIFO, b LIFO, c weighted average, and specific
identification. Round all amounts to cents.
Compute gross profit earned by the company for each of the four costing methods in part
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