! Required information [The following information applies to the questions displayed below.] Warnerwoods Company uses a perpetual inventory system. It entered into the following purchases and sales transactions for March. Date March 1 Activities March 5 Beginning inventory Purchase Units Acquired at Cost 130 units @ $51.60 per unit 240 units @ $56.60 per unit Units Sold at Retail March 9 Sales 290 units @ $86.60 per unit March 18 Purchase March 25 Purchase 100 units @ $61.60 per unit 180 units @ $63.60 per unit March 29 Sales Totals 650 units 160 units @ $96.60 per unit 450 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 80 units from beginning inventory, 210 units from the March 5 purchase, 60 units from the March 18 purchase, and 100 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
! Required information [The following information applies to the questions displayed below.] Warnerwoods Company uses a perpetual inventory system. It entered into the following purchases and sales transactions for March. Date March 1 Activities March 5 Beginning inventory Purchase Units Acquired at Cost 130 units @ $51.60 per unit 240 units @ $56.60 per unit Units Sold at Retail March 9 Sales 290 units @ $86.60 per unit March 18 Purchase March 25 Purchase 100 units @ $61.60 per unit 180 units @ $63.60 per unit March 29 Sales Totals 650 units 160 units @ $96.60 per unit 450 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 80 units from beginning inventory, 210 units from the March 5 purchase, 60 units from the March 18 purchase, and 100 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
Century 21 Accounting General Journal
11th Edition
ISBN:9781337680059
Author:Gilbertson
Publisher:Gilbertson
Chapter20: Accounting For Inventory
Section: Chapter Questions
Problem 3AP
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