Required information Problem 5-1A (Algo) 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 March 1 March 5 March 9 March 18 March 25 March 29 Activities Beginning inventory Purchase Sales Purchase Purchase Sales Totals Perpetual FIFO Perpetual LIFO Units Acquired at Cost 230 units @ $53.60 per unit 290 units @ $58.60 per unit Weighted Average 150 units @ $63.60 per unit 280 units @ $65.60 per unit Complete this question by entering your answers in the tabs below. Specific Id 950 units Problem 5-1A (Algo) 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, units sold include 130 units from beginning inventory, 260 units from the March 5 purchase, 110 units from the March 18 purchase, and 150 units from the March 25 purchase. Units Sold at Retail 390 units @ $88.60 per unit units @ $98.60 per 650 units
Required information Problem 5-1A (Algo) 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 March 1 March 5 March 9 March 18 March 25 March 29 Activities Beginning inventory Purchase Sales Purchase Purchase Sales Totals Perpetual FIFO Perpetual LIFO Units Acquired at Cost 230 units @ $53.60 per unit 290 units @ $58.60 per unit Weighted Average 150 units @ $63.60 per unit 280 units @ $65.60 per unit Complete this question by entering your answers in the tabs below. Specific Id 950 units Problem 5-1A (Algo) 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, units sold include 130 units from beginning inventory, 260 units from the March 5 purchase, 110 units from the March 18 purchase, and 150 units from the March 25 purchase. Units Sold at Retail 390 units @ $88.60 per unit units @ $98.60 per 650 units
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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please answer all requirements with explanation , computation , formulation and steps thanks for help in advance please no copy paste from other answer need complete and correct answer or skip / leave. Answer in text not image please remember answer all or skip clearly.
![Required information
Problem 5-1A (Algo) 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
March 1
March 5
March 9
March 18
March 25
March 29
Activities
Beginning inventory
Purchase
Sales
Purchase
Purchase
Sales
Totals
Perpetual FIFO Perpetual LIFO
Units Acquired at Cost
230 units @ $53.60 per unit
290 units @ $58.60 per unit
Weighted
Average
150 units @ $63.60 per unit.
280 units @ $65.60 per unit
Complete this question by entering your answers in the tabs below.
Specific Id
950 units
Problem 5-1A (Algo) 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, units sold include 130 units from beginning inventory, 260 units from the March 5 purchase, 110 units from the
March 18 purchase, and 150 units from the March 25 purchase.
Units Sold at Retail
390 units@ $88.60 per unit
260 units@ $98.60 per unit
650 units](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Ff267d921-7e78-4449-ada4-792e90b484ea%2Fdae2d9c6-7777-487d-8317-6e2b12d723bf%2F9jydl4_processed.png&w=3840&q=75)
Transcribed Image Text:Required information
Problem 5-1A (Algo) 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
March 1
March 5
March 9
March 18
March 25
March 29
Activities
Beginning inventory
Purchase
Sales
Purchase
Purchase
Sales
Totals
Perpetual FIFO Perpetual LIFO
Units Acquired at Cost
230 units @ $53.60 per unit
290 units @ $58.60 per unit
Weighted
Average
150 units @ $63.60 per unit.
280 units @ $65.60 per unit
Complete this question by entering your answers in the tabs below.
Specific Id
950 units
Problem 5-1A (Algo) 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, units sold include 130 units from beginning inventory, 260 units from the March 5 purchase, 110 units from the
March 18 purchase, and 150 units from the March 25 purchase.
Units Sold at Retail
390 units@ $88.60 per unit
260 units@ $98.60 per unit
650 units
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