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 Units Acquired at Cost 190 units @ $52.80 per unit 270 units @ $57.80 per unit 130 units@ $62.80 per unit 240 units@ $64.88 per unit 830 units Units Sold at Retail 350 units @ $87.88 per unit 220 units @ $97.80 per unit 570 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 110 units from beginning inventory, 240 units from the March 5 purchase, 90 units from the March 18 purchase, and 130 units from the March 25 purchase.

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 Units Acquired at Cost 190 units @ $52.80 per unit 270 units @ $57.80 per unit 130 units@ $62.80 per unit 240 units@ $64.88 per unit 830 units Units Sold at Retail 350 units @ $87.88 per unit 220 units @ $97.80 per unit 570 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 110 units from beginning inventory, 240 units from the March 5 purchase, 90 units from the March 18 purchase, and 130 units from the March 25 purchase.

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Description: Please help me. Thankyou. 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 salestransactions for March.DateMarc

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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