please answer complete question otherwise skip it, please answer in text form Required information[The following information applies to the questions displayed below.]Warnerwoods Company uses a periodic inventory system. It entered into the following purchases and sales transactionsfor March.DateMarch 1March 5March 9March 18March 25March 29ActivitiesBeginning inventoryPurchaseSalesPurchasePurchaseSalesTotals.Units Acquired at Cost180 units @ $70 per unit480 units @ $75 per unit280 unito e $80 per unit360 units@ $82 per unit1,300 unitsUnits Sold at Retail500 units $105 per unit320 units @ $115 per unit820 unitsFor specific identification, units sold include 90 units from beginning inventory, 410 units from the March 5 purchase, 120units from the March 18 purchase, and 200 units from the March 25 purchase.3. Compute the cost assigned to ending inventory using (a) FIFO, (b) LIFO. (c) weighted average, and (d) specific identification.Note: Round your "average cost per unit" to 2 decimal places.

Under FIFO method the oldest products in inventory have been sold first.Under LIFO method the newest…

Required information [The following information applies to the questions displayed below] Warnerwoods Company uses a periodic 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 Units Acquired at Cost 180 units $70 per unit 480 units@ $75 per unit 280 unite 360 units 1,300 units 580 per unit $82 per unit Unite Sold at Retail 500 units $105 per unit 320 units $115 per unit. 820 units For specific identification, units sold include 90 units from beginning inventory, 410 units from the March 5 purchase, 120 units from the March 18 purchase, and 200 units from the March 25 purchase. 3. Compute the cost assigned to ending inventory using (a) FIFO, (b) LIFO, (c) weighted average, and (d) specific identification. Note: Round your "average cost per unit" to 2 decimal places.

Required information [The following information applies to the questions displayed below] Warnerwoods Company uses a periodic 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 Units Acquired at Cost 180 units $70 per unit 480 units@ $75 per unit 280 unite 360 units 1,300 units 580 per unit $82 per unit Unite Sold at Retail 500 units $105 per unit 320 units $115 per unit. 820 units For specific identification, units sold include 90 units from beginning inventory, 410 units from the March 5 purchase, 120 units from the March 18 purchase, and 200 units from the March 25 purchase. 3. Compute the cost assigned to ending inventory using (a) FIFO, (b) LIFO, (c) weighted average, and (d) specific identification. Note: Round your "average cost per unit" to 2 decimal places.

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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