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Warnerwoods Company uses a perpetual inventory system. It entered into the following purchases and sales transactions for March. Compute cost of goods available for sale
Warnerwoods Company uses a perpetual inventory system. It entered into the following purchases and sales transactions for March.
Compute cost of goods available for sale and the number of units available for sale.
Compute the cost assigned to ending inventory using (a) FIFO, (b) LIFO, (c) weighted average, and (d) specific identification. For specific identification, units sold include 100 units from beginning inventory, 230 units from the March 5 purchase, 80 units from the March 18 purchase, and 120 units from the March 25 purchase.
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