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Warnerwoods Company uses a perpetual inventory system. It entered into the following purchases and sales transactions for March. Submit Date March 1 March 5
Warnerwoods Company uses a perpetual inventory system. It entered into the following purchases and sales transactions for March. Submit Date March 1 March 5 March 9 March 18 March 25 March 29 Activities Beginning inventory Purchase Sales Purchase Purchase Sales Totals Units Acquired at Cost 230 units @ $53.60 per unit 290 units @ $58.60 per unit Units Sold at Retail 390 units @ $88.60 per unit 150 units @ $63.60 per unit 280 units @ $65.60 per unit 950 units 260 units @ $98.60 per unit 650 units 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 130 units from beginning inventory, 260 units from the March 5 purchase, 110 units from the March 18 purchase, and 150 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.
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