Question: Problem 5 - 2 AA ( Algo ) Periodic: Alternative cost flows LO P 3 [ The following information applies to the questions displayed below.
Problem AA Algo Periodic: Alternative cost flows LO P
The following information applies to the questions displayed below.
Warnerwoods Company uses a periodic inventory system. It entered into the following purchases and sales transactions for March.
Activities
Date
March
Beginning inventory
units @ $ per unit
March
Purchase
units @ $ per unit
March
Sales
March
Purchase
March
Purchase
March
units @ $ per unit
Sales
units @ $ per unit
Totals
Units Acquired at Cost
units
Units Sold at Retail
units @ $ per unit
units @ $ per unit
units
For specific identification, units sold include units from beginning inventory, units from the March purchase, units from the March purchase, and units from the March purchase.
Problem AA Algo Part
Compute the cost assigned to ending inventory using a FIFO, b LIFO, c weighted average, and d specific identification.
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