Question: Required information Problem 5-1A Perpetual: Alternative cost flows LO P1 [The following information applies to the questions displayed below] Warnerwoods Company uses a perpetual inventory
Required information Problem 5-1A 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. Date Activities Units Acquired at Cost 120 units@ $51.40 per unit 235 units $56.40 per unit Units Sold at Retail 1 Beginning inventory S Purchase 9 Sales Mar. Mar Mar Mar 18 Purchase Mar. 25 Purchase Mar. 29 Sales 280 units@ $86.40 per unit 95 units@ $61.40 per unit 170 units@ $63.40 per unit 150 units@ $96.40 per unit Totals 620 units 430 units Problem 5-1A 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 75 units from beginning inventory and 205 units from the March 5ourchase, the March 29 sale consisted of 55 units from the March 18 purchase and 95 units from the March 25 purchase. Complete this question by entering your answers in the tabs below. Weighted Average Perpetual FIFO Perpetual LIFO Specific Id
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