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Warnerwoods Company uses a perpetual inventory system. It entered into the following purchases and sales transactions for March. Part 3 of 4 Date Activities Units
Warnerwoods Company uses a perpetual inventory system. It entered into the following purchases and sales transactions for March. Part 3 of 4 Date Activities Units Acquired at Cost Units Sold at Retail 140 units $51.80 per Mar. Beginning 140 units unit inventory Mar. 5 Purchase @ $56.80 per 245 units unit Joints Mar. 9 Sales 300 unitee $86.80 per unit Mar. 18 Purchase @ $61.80 per 105 units unit eBook Mar.25 Purchase 190 units unit @ $63.80 per Mar.29 Sales Print 170 units $96.80 per unit 470 units Totals 680 units Reference erage and specifics units 3. 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 85 units from beginning inventory and 215 units from the March 5 purchase, the March 29 sale consisted of 65 units from the March 18 purchase and 105 units from the March 25 purchase. Compute the cost assigned to ending inventory using specific identification. For specific identification, the March 9 sale consisted of 85 units from beginning inventory and 215 units from the March 5 purchase; the March 29 sale consisted of 65 units from the March 18 purchase and 105 units from the March 25 purchase. Specific Identification: Goods Purchased Cost # of Date units Cost of Goods Sold Cost of # of units Cost per unit per unit sold Goods Sold Inventory Balance Cost Inventory # of units per Balance 140 @ 1.80 = $7,252.00 March 1 March 5 245 @ 56.80 51.80 56.BO March 9 March 18 | 105 @ Sol March 25 190 @ 63.80 63.80 March 29 Totals S 0.001
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