Date March 1 March 5 March 9: March 18 March 25 March 29 Activities Beginning inventory Purchase Sales Purchase Purchase Sales Totals Units Acquired at Cost 80 units @ $50.60 per unit 215 units @ $55.60 per unit 75 units 130 units 500 units @ $60.60 per unit @ $62.60 per unit Units Sold at Retail 240 units @ $55.60 per unit 110 units @ $95.60 per unit 350 units

Date March 1 March 5 March 9: March 18 March 25 March 29 Activities Beginning inventory Purchase Sales Purchase Purchase Sales Totals Units Acquired at Cost 80 units @ $50.60 per unit 215 units @ $55.60 per unit 75 units 130 units 500 units @ $60.60 per unit @ $62.60 per unit Units Sold at Retail 240 units @ $55.60 per unit 110 units @ $95.60 per unit 350 units

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Description: please dont provide answer in an image format thank you Required informationProblem 6-1A (Algo) Perpetual: Alternative cost flows LO P1[The following information applies to the questions displayed below.]Warnerwoods Company uses a perpetual inventory

Principles of Accounting Volume 1

19th Edition

ISBN:9781947172685

Author:OpenStax

Publisher:OpenStax

Chapter10: Inventory

Section: Chapter Questions

Problem 5PB: Use the first-in, first-out method (FIFO) cost allocation method, with perpetual inventory updating,...

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Concept explainers

Inventory Valuation

Before discussing the topic inventory valuation let’s discuss the meaning of inventory. In accounting, inventory is also known as stock. Inventory means all the finished goods, materials, merchandise that a business holds for the purpose of selling it in the market with the motive of earning profit.

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References
4. Compute gross profit earned by the company for each of the four costing methods. For specific identification, units sold include 55
units from beginning inventory, 185 units from the March 5 purchase, 35 units from the March 18 purchase, and 75 units from the March
25 purchase.
Note: Round weighted average cost per unit to two decimals and final answers to nearest whole dollar
Weighted
Gross Margin
Sales
Less Cost of goods sold
Ons pr
FRO
LIFO
Specific O

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