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 Activities Beginning inventory Purchase Sales March 18 March 25 March 29 Purchase Purchase Sales Totals Units Acquired at Cost 90 units @ $50.80 per unit 220 units @ $55.80 per unit Units Sold at Retail 250 units @ $85.80 per unit 80 units 140 units $60.80 per unit $62.80 per unit 530 units 120 units @ $95.80 per unit 370 units mpute gross profit earned by the company for each of the four costing methods. For specific identification, units sold include 60 from beginning inventory, 190 units from the March 5 purchase, 40 units from the March 18 purchase, and 80 units from the h25 purchase. Round weighted average cost per unit to two decimals and final answers to nearest whole dollar. Gross Margin FIFO LIFO Weighted Average Specific ID
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 Activities Beginning inventory Purchase Sales March 18 March 25 March 29 Purchase Purchase Sales Totals Units Acquired at Cost 90 units @ $50.80 per unit 220 units @ $55.80 per unit Units Sold at Retail 250 units @ $85.80 per unit 80 units 140 units $60.80 per unit $62.80 per unit 530 units 120 units @ $95.80 per unit 370 units mpute gross profit earned by the company for each of the four costing methods. For specific identification, units sold include 60 from beginning inventory, 190 units from the March 5 purchase, 40 units from the March 18 purchase, and 80 units from the h25 purchase. Round weighted average cost per unit to two decimals and final answers to nearest whole dollar. Gross Margin FIFO LIFO Weighted Average Specific ID
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
Related questions
Question
Denger
![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
Activities
Beginning inventory
Purchase
Sales
March 18
March 25
March 29
Purchase
Purchase
Sales
Totals
Units Acquired at Cost
90 units @ $50.80 per unit
220 units @ $55.80 per unit
Units Sold at Retail
250 units @ $85.80 per unit
80 units
140 units
$60.80 per unit
$62.80 per unit
530 units
120 units @ $95.80 per unit
370 units
mpute gross profit earned by the company for each of the four costing methods. For specific identification, units sold include 60
from beginning inventory, 190 units from the March 5 purchase, 40 units from the March 18 purchase, and 80 units from the
h25 purchase.
Round weighted average cost per unit to two decimals and final answers to nearest whole dollar.
Gross Margin
FIFO
LIFO
Weighted
Average
Specific ID](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F9404c97e-bb47-4b9b-a884-7a48b8845e15%2Faf13f4a3-a3e1-4568-98e7-a0ab2108026f%2Fzw3afhi_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
Activities
Beginning inventory
Purchase
Sales
March 18
March 25
March 29
Purchase
Purchase
Sales
Totals
Units Acquired at Cost
90 units @ $50.80 per unit
220 units @ $55.80 per unit
Units Sold at Retail
250 units @ $85.80 per unit
80 units
140 units
$60.80 per unit
$62.80 per unit
530 units
120 units @ $95.80 per unit
370 units
mpute gross profit earned by the company for each of the four costing methods. For specific identification, units sold include 60
from beginning inventory, 190 units from the March 5 purchase, 40 units from the March 18 purchase, and 80 units from the
h25 purchase.
Round weighted average cost per unit to two decimals and final answers to nearest whole dollar.
Gross Margin
FIFO
LIFO
Weighted
Average
Specific ID
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