Exam 3 Chapters 4-5 i 16 ! Required information Saved Part 4 of 4 [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. 5 points Date March 1 March 5 March 9 01-12:07 March 18 March 25 March 29 Activities Beginning inventory Purchase Sales Purchase Purchase Sales Units Acquired at Cost 130 units @ $51.60 per unit 240 units @ $56.60 per unit 100 units @ $61.60 per unit 180 units @ $63.60 per unit Units Sold at Retail 290 units @ $86.60 per unit Totals 650 units 160 units @ $96.60 per unit 450 units 4. Compute gross profit earned by the company for each of the four costing methods. For specific identification, units sold include 80 units from beginning inventory, 210 units from the March 5 purchase, 60 units from the March 18 purchase, and 100 units from the March 25 purchase. Note: Round weighted average cost per unit to two decimals and final answers to nearest whole dollar. Gross Margin FIFO LIFO Weighted Average Specific ID Sales Less: Cost of goods sold Gross profit Help Save & Ex
Exam 3 Chapters 4-5 i 16 ! Required information Saved Part 4 of 4 [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. 5 points Date March 1 March 5 March 9 01-12:07 March 18 March 25 March 29 Activities Beginning inventory Purchase Sales Purchase Purchase Sales Units Acquired at Cost 130 units @ $51.60 per unit 240 units @ $56.60 per unit 100 units @ $61.60 per unit 180 units @ $63.60 per unit Units Sold at Retail 290 units @ $86.60 per unit Totals 650 units 160 units @ $96.60 per unit 450 units 4. Compute gross profit earned by the company for each of the four costing methods. For specific identification, units sold include 80 units from beginning inventory, 210 units from the March 5 purchase, 60 units from the March 18 purchase, and 100 units from the March 25 purchase. Note: Round weighted average cost per unit to two decimals and final answers to nearest whole dollar. Gross Margin FIFO LIFO Weighted Average Specific ID Sales Less: Cost of goods sold Gross profit Help Save & Ex
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
Related questions
Question
![Exam 3 Chapters 4-5 i
16
!
Required information
Saved
Part 4 of 4
[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.
5
points
Date
March 1
March 5
March 9
01-12:07
March 18
March 25
March 29
Activities
Beginning inventory
Purchase
Sales
Purchase
Purchase
Sales
Units Acquired at Cost
130 units @ $51.60 per unit
240 units @ $56.60 per unit
100 units @ $61.60 per unit
180 units @ $63.60 per unit
Units Sold at Retail
290 units @ $86.60 per unit
Totals
650 units
160 units @ $96.60 per unit
450 units
4. Compute gross profit earned by the company for each of the four costing methods. For specific identification, units sold include 80
units from beginning inventory, 210 units from the March 5 purchase, 60 units from the March 18 purchase, and 100 units from the
March 25 purchase.
Note: Round weighted average cost per unit to two decimals and final answers to nearest whole dollar.
Gross Margin
FIFO
LIFO
Weighted
Average
Specific ID
Sales
Less: Cost of goods sold
Gross profit
Help
Save & Ex](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F91eb77b1-da86-400b-87e6-77c486530178%2F144ed720-2243-4d52-9f94-6b2d9799c162%2Fkthspji_processed.jpeg&w=3840&q=75)
Transcribed Image Text:Exam 3 Chapters 4-5 i
16
!
Required information
Saved
Part 4 of 4
[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.
5
points
Date
March 1
March 5
March 9
01-12:07
March 18
March 25
March 29
Activities
Beginning inventory
Purchase
Sales
Purchase
Purchase
Sales
Units Acquired at Cost
130 units @ $51.60 per unit
240 units @ $56.60 per unit
100 units @ $61.60 per unit
180 units @ $63.60 per unit
Units Sold at Retail
290 units @ $86.60 per unit
Totals
650 units
160 units @ $96.60 per unit
450 units
4. Compute gross profit earned by the company for each of the four costing methods. For specific identification, units sold include 80
units from beginning inventory, 210 units from the March 5 purchase, 60 units from the March 18 purchase, and 100 units from the
March 25 purchase.
Note: Round weighted average cost per unit to two decimals and final answers to nearest whole dollar.
Gross Margin
FIFO
LIFO
Weighted
Average
Specific ID
Sales
Less: Cost of goods sold
Gross profit
Help
Save & Ex
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