Warnerwoods Company uses a perpetual inventory system. It entered into the following purchases and sales transactions for March. Date March 1 March 5 March 9 March 18 March 25 March 29 Activities Beginning inventory Purchase Sales Purchase Purchase Sales Totals Problem 5-1A (Algo) Part 4 Units Acquired at Cost 120 units @ $51.40 per unit 235 units @ $56.40 per unit 95 units. @ $61.40 per unit. 170 units @ $63.40 per unit. 620 units Units Sold at Retail 280 units @ $86.40 per unit 150 units @ $96.40 per unit. 430 units 4. Compute gross profit earned by the company for each of the four costing methods. For specific identification, units sold include 75 units from beginning inventory, 205 units from the March 5 purchase, 55 units from the March 18 purchase, and 95 units from the March 25 purchase. (Round weighted average cost per unit to two decimals and final answers to nearest whole dollar.)

Warnerwoods Company uses a perpetual inventory system. It entered into the following purchases and sales transactions for March. Date March 1 March 5 March 9 March 18 March 25 March 29 Activities Beginning inventory Purchase Sales Purchase Purchase Sales Totals Problem 5-1A (Algo) Part 4 Units Acquired at Cost 120 units @ $51.40 per unit 235 units @ $56.40 per unit 95 units. @ $61.40 per unit. 170 units @ $63.40 per unit. 620 units Units Sold at Retail 280 units @ $86.40 per unit 150 units @ $96.40 per unit. 430 units 4. Compute gross profit earned by the company for each of the four costing methods. For specific identification, units sold include 75 units from beginning inventory, 205 units from the March 5 purchase, 55 units from the March 18 purchase, and 95 units from the March 25 purchase. (Round weighted average cost per unit to two decimals and final answers to nearest whole dollar.)

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Description: Please complete the gross profit chart omeworkWarnerwoods Company uses a perpetual inventory system. It entered into the following purchases and sales transactionsfor March.DateMarch 1March 5March 9March 18March 25March 29ActivitiesBeginning inventor

Cornerstones of Financial Accounting

4th Edition

ISBN:9781337690881

Author:Jay Rich, Jeff Jones

Publisher:Jay Rich, Jeff Jones

Chapter6: Cost Of Goods Sold And Inventory

Section: Chapter Questions

Problem 50E: Inventory Costing Methods Crandall Distributors uses a perpetual inventory system and has the...

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