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Warnerwoods Company uses a perpetual inventory system. It entered into the following purchases and sales transactions for March. Compute the cost assigned to ending inventory

Warnerwoods Company uses a perpetual inventory system. It entered into the following purchases and sales transactions for March.

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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 50 units from beginning inventory and 180 units from the March 5 purchase; the March 29 sale consisted of 30 units from the March 18 purchase and 70 units from the March 25 purchase. (Round your average cost per unit to 2 decimal places.)

(a) FIFO

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(b) LIFO

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(c) Weighted Average

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(d) Specific Identification

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Warnerwoods Company uses a perpetual inventory system. It entered into the following purchases and sales transactions for March. Units Acquired at Cost Units Sold at Retail Date Activities 70 units a $50.40 per unit Mar. 1 Beginning inventory 210 units $55.40 per unit Mar. 5 Purchase Mar. 9 Sales 230 units $85.40 per unit Mar. 18 Purchase 70 units a $60.40 per unit Mar. 25 Purchase 120 units a $62.40 per unit 100 units $95.40 per unit Mar. 29 Sales 470 units 330 units Totals

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