compute the cost assigned to ending inventory using (a)FIFO (b)LIFO (c)weighted average (d) specific identification. for specific identification the March 9 sale consisted of 125 units from beginning inventory 255 units from the March 5 purchase the March 29 sale consisted of 105 units from the March 18 purchase and 145 units from the March 25 purchase.

Ches Problem 6-1A Perpetual: Alternative cost flows LO P1 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 Units Sold at Retail Units Acquired at Cost 220 units@ $53.40 per unit 285 units @ $58.40 per unit 380 units @ $88.40 per unit Date Activities Mar. 1 Beginning inventory Mar. 5 Purchase Mar 9 Sales Mar. 18 Purchase Mar. 25 Purchase Mar. 29 Sales Totals 145 units @ $63.40 per unit 278 units @ $65.40 per unit 250 units@ $98.40 per unit 630 units 920 units Problem 6-1A Part 3 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 125 units from beginning inventory and 255 units from the March 5 purchase the March 29 sale consisted of 105 units from the March 18 purchase and 145 units from the March 25 purchase. Algorithmic Saved Help Save & Exit Check Units Sold at Retail Units Acquired at Cost 220 units @ $53.40 per unit 285 units @ $58.40 per unit 380 units @ $88.40 per unit Date Activities Mar. 1 Beginning inventory Mar 5 Purchase Mar 9 Sales Mar. 18 Purchase Mar. 25 Purchase Mar. 29 Sales Totals 145 units@ $63.40 per unit 270 units@ $65.40 per unit 250 units@ $98.40 per unit 630 units 920 units Problem 6-1A Part 4 4. Compute gross profit earned by the company for each of the four costing methods. For specific identification, the March 9 sale consisted of 125 units from beginning inventory and 255 units from the March 5 purchase, the March 29 sale consisted of 105 units from the March 18 purchase and 145 units from the March 25 purchase. (Round weighted average cost per unit to two decimals and final answers to nearest whole dollar.) FIFO LIFO Avg. Cost Spec. ID Gross Margin Sales Less: Cost of goods sold Gross profit