Question: Need help fixing my problem Warnerwoods Company uses a perpetual inventory system. It entered into the following purchases and sales transactions for March. Units Sold
Need help fixing my problem






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 100 units @ $50.00 per unit 400 units @ $55.00 per unit Date Activities Mar. 1 Beginning inventory Mar. 5 Purchase Mar. 9 Sales Mar. 18 Purchase Mar. 25 Purchase Mar. 29 Sales Totals 420 units @ $85.00 per unit 120 units @ $60.00 per unit 200 units @ $62.00 per unit 828 units 160 units @ $95.00 per unit 582 units 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 80 units from beginning inventory and 340 units from the March 5 purchase; the March 29 sale consisted of 40 units from the March 18 purchase and 120 units from the March 25 purchase. Compute the cost assigned to ending inventory using specific identification. For specific identification, the March 9 sale consisted of 80 units fr and 340 units from the March 5 purchase; the March 29 sale consisted of 40 units from the March 18 purchase and 120 units from the March specific identification. For specific identification, the March 9 sale consisted of 80 units from beginning inventory 29 sale consisted of 40 units from the March 18 purchase and 120 units from the March 25 purchase. Specific Identification: Goods Purchased # of Cost Date per units unit Inventory Balance # of units sold Cost of Goods Sold Cost per Cost of Goods Sold unit # of units Cost per Inventory Balance unit March 1 100 @ $ 50.00 $ 5,000.00 March 5 200: @ $ 62.00 12400 a $ 50.00 = $ 620,000.00 $ 62.00 $ 620,000.00 March 9 @ $ 50.00 $ 0.00 $ 50.00 = $ 62.00 = @ $ 62.00 0.00 a March 18 March 25 March 29 Totals $ 0.00
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