Required Information [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 1 March 25 March 29 Ison Activities Beginning inventory Purchase Sales Purchase Gress Margin Sales Jotals FIFO Units Acquired at Cost 351.20 per unit @358.20 per unit LIFO 210 units 200 units 149 units 200 units 300 units 4. Compute gross profit earned by the company for each of the four costing methods. For specific identification, units sold include 120 units from beginning inventory. 250 units from the March 5 purchase, 100 units from the March 18 purchase, and 140 units from the March 25 purchase. Note: Round weighted average cost per unit to two decimals and final answers to nearest whole dollar @365.20 per unit $65.20 per unit Weighted Average Units Sold at Retail Specific ID 320 units, 188.20 per unit 240 units $34.20 per unit 810 units
Required Information [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 1 March 25 March 29 Ison Activities Beginning inventory Purchase Sales Purchase Gress Margin Sales Jotals FIFO Units Acquired at Cost 351.20 per unit @358.20 per unit LIFO 210 units 200 units 149 units 200 units 300 units 4. Compute gross profit earned by the company for each of the four costing methods. For specific identification, units sold include 120 units from beginning inventory. 250 units from the March 5 purchase, 100 units from the March 18 purchase, and 140 units from the March 25 purchase. Note: Round weighted average cost per unit to two decimals and final answers to nearest whole dollar @365.20 per unit $65.20 per unit Weighted Average Units Sold at Retail Specific ID 320 units, 188.20 per unit 240 units $34.20 per unit 810 units
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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can you help me solve I am not sure what numbers are suppsed to be put together
![Required Information
[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 1
March 25
March 29
Gross Margin
Activities
Beginning inventory
Purchase
Sales
Purchase
Purchase
Sales
Jotals
Sales
Less Cost of goods said
Gross profe
FIFO
Units Acquired at Cost
@ 353.20 per unit
@ 358.20 per unit
LIFO
210 units
280 units
140 units
260 units
Now units
4. Compute gross profit earned by the company for each of the four costing methods. For specific identification, units sold include 120
units from beginning inventory. 250 units from the March 5 purchase, 100 units from the March 18 purchase, and 140 units from the
March 25 purchase.
Note: Round weighted average cost per unit to two decimals and final answers to nearest whole dollar.
@365.20 per unit
365.20 per unit
Weighted
Average
Units Sold at Retail
Specific ID
320 units 388.20 per unit
240 units@ $94.20 per unit
610 units](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F4443701b-496e-42a6-91fc-6b9255dbe93e%2Fafe11ae2-c618-41d3-a19e-05a3f6816827%2Fjzygzho_processed.jpeg&w=3840&q=75)
Transcribed Image Text:Required Information
[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 1
March 25
March 29
Gross Margin
Activities
Beginning inventory
Purchase
Sales
Purchase
Purchase
Sales
Jotals
Sales
Less Cost of goods said
Gross profe
FIFO
Units Acquired at Cost
@ 353.20 per unit
@ 358.20 per unit
LIFO
210 units
280 units
140 units
260 units
Now units
4. Compute gross profit earned by the company for each of the four costing methods. For specific identification, units sold include 120
units from beginning inventory. 250 units from the March 5 purchase, 100 units from the March 18 purchase, and 140 units from the
March 25 purchase.
Note: Round weighted average cost per unit to two decimals and final answers to nearest whole dollar.
@365.20 per unit
365.20 per unit
Weighted
Average
Units Sold at Retail
Specific ID
320 units 388.20 per unit
240 units@ $94.20 per unit
610 units
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