Question: Required information Problem 6 - 2 AA ( Static ) Periodic: Alternative cost flows LO P 3 [ The following information applies to the questions

Required information
Problem 6-2AA (Static) Periodic: Alternative cost flows LO P3
[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.
\table[[Date,Activities,Units Acquired ot con,],[\table[[March 1],[March 5]],Beginning inventory,\table[[Units Acquired at Cost],[100 units @ $50 per unit]],Units Sold at Retail],[March 9,\table[[Purchase],[Sales]],400 units @ $55 per unit,],[March 18,Purchase,120 units a $60 per unit,420 units @ $85 per unit],[\table[[March 25],[March 29]],\table[[Purchase],[Sales]],200 units @ $62 per unit,],[,Totals,820 units,160units580units@$95 per unit]]
For specific identification, units sold include 80 units from beginning inventory, 340 units from the March 5 purchase, 40 units from the March 18 purchase, and 120 units from the March 25 purchase.
Problem 6-2AA (Static) Part 3
3. Compute the cost assigned to ending inventory using (a) FIFO, (b) LIFO, (c) weighted average, and (d) specific identification. Note: Round your "average cost per unit" to 2 decimal places.
a) Periodic FIFO
 Required information Problem 6-2AA (Static) Periodic: Alternative cost flows LO P3

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