Question: Please only WEIGHTED AVERAGE & SPECIFIC IDENTIFICATION ways 44 ative Refer to the information in Problem 6-1A and assume the periodic inventory system is used.

44 ative Refer to the information in Problem 6-1A and assume the periodic inventory system is used. Required 1. Compute cost of goods available for sale and the number of units available for sale. 2. Compute the number of units in ending inventory. 3. Compute the cost assigned to ending inventory using (a) FIFO, (b) LIFO. () weighted average, and (d) specific identification. (Round all amounts to cents.) Warnerwoods Company uses a perpetual inventory system. It entered into the following purchases and sales transactions for March. (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.) Date Activities Units Sold at Retail Units Acquired at Cost 100 units @ $50.00 per unit 400 units a $55.00 per unit Mar. 1 Mar. 5 Mar. 9 Mar. 18 Mar. 25 Mar. 29 420 units a $85.00 per unit Beginning inventory.. Purchase Sales Purchase Purchase Sales Totals. 120 units @ $60.00 per unit 200 units @ $62.00 per unit 820 units 160 units o $95.00 per unit 580 units
Step by Step Solution
There are 3 Steps involved in it
Get step-by-step solutions from verified subject matter experts
