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Warnerwoods Company uses a perpetual inventory system. It entered into the following purchases and sales transactions for March. Date Activities Units Acquired at Cost Units
Warnerwoods Company uses a perpetual inventory system. It entered into the following purchases and sales transactions for March.
Date Activities Units Acquired at Cost Units Sold at Retail
March ?Beginning inventory ?units @ $ ?per unit
March ?Purchase ?units @ $ ?per unit
March ?Sales ?units @ $ ?per unit
March ?Purchase ?units @ $ ?per unit
March ?Purchase ?units @ $ ?per unit
March ?Sales ?units @ $ ?per unit
? Totals ?units ?units
?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 ?units from beginning inventory, ?units from the March ?purchase, ?units from the March ?purchase, and ?units from the March ?purchase.
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