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 90 units@ $50.80 per unit 220 units @ $55.80 per unit Units Sold at Retail Mar. 1 Beginning inventory 5 Purchase 9 Sales Mar. 18 Purchase Mar. 25 Purchase Mar. 29 Sales. Mar. Mar. 250 units @ $85.80 per unit 80 units@ $60.80 per unit 140 units@ $62.80 per unit 120 units@ $95.80 per unit Totals 530 units 370 units Problem 5-1A Part 4 4. Compute gross profit earned by the company for each of the four costing methods. For specific identification, the March 9 sale consisted of 60 units from beginning inventory and 190 units from the March 5 purchase; the March 29 sale consisted of 40 units from the March 18 purchase and 80 units from the March 25 purchase. (Round weighted average cost per unit to two decimals and final answers to nearest whole dollar.) SA < Prey 8. of 8 Next

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 90 units@ $50.80 per unit 220 units @ $55.80 per unit Units Sold at Retail Mar. 1 Beginning inventory 5 Purchase 9 Sales Mar. 18 Purchase Mar. 25 Purchase Mar. 29 Sales. Mar. Mar. 250 units @ $85.80 per unit 80 units@ $60.80 per unit 140 units@ $62.80 per unit 120 units@ $95.80 per unit Totals 530 units 370 units Problem 5-1A Part 4 4. Compute gross profit earned by the company for each of the four costing methods. For specific identification, the March 9 sale consisted of 60 units from beginning inventory and 190 units from the March 5 purchase; the March 29 sale consisted of 40 units from the March 18 purchase and 80 units from the March 25 purchase. (Round weighted average cost per unit to two decimals and final answers to nearest whole dollar.) SA < Prey 8. of 8 Next

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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