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Warnerwoods Company uses a perpetual inventory system. It entered into the following purchases and sales transactions for March Date March 1 March 5 Sales
Warnerwoods Company uses a perpetual inventory system. It entered into the following purchases and sales transactions for March Date March 1 March 5 Sales Units sold at Retail Activities Beginning inventory Purchase Units Acquired at Cost 210 units $53.20 per unit 280 units 140 units 260 units 890 units $58.20 per unit @$63.20 per unit $65.20 per unit 370 units $88.20 per unit 240 units $98.20 per unit 610 units Purchase Purchase March 9 March 18 March 25 March 29 Sales Totals 3. 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 120 units from beginning inventory, 250 units from the March 5 purchase, 100 units from the March 18 purchase, and 140 units from the March 25 purchase. Complete this question by entering your answers in the tabs below. Perpetual FIFO Perpetual LIFO Weighted Average Specific Id Compute the cost assigned to ending inventory using FIFO. Perpetual FIFO:
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