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 Problem 6-1A (Algo) Part 3 Units Acquired at Cost 130 units @ $51.60 per unit 240 units @ $56.60 per unit 100 units 180 units. 650 units @ $61.60 per unit @ $63.60 per unit Units Sold at Retail 290 units@ $86.60 per unit 160 units@ $96.60 per unit 450 units 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 80 units from beginning inventory, 210 units from the March 5 purchase, 60 units from the March 18 purchase, and 100 units from the March 25 purchase.

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 Problem 6-1A (Algo) Part 3 Units Acquired at Cost 130 units @ $51.60 per unit 240 units @ $56.60 per unit 100 units 180 units. 650 units @ $61.60 per unit @ $63.60 per unit Units Sold at Retail 290 units@ $86.60 per unit 160 units@ $96.60 per unit 450 units 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 80 units from beginning inventory, 210 units from the March 5 purchase, 60 units from the March 18 purchase, and 100 units from the March 25 purchase.

Name: Warnerwoods Company uses a perpetual inventory system. It entered int
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Description: Warnerwoods Company uses a perpetual inventory system. It entered into the following purchases and sales transactionsfor March.DateMarch 1March 5March 9March 18March 25March 29ActivitiesBeginning inventoryPurchaseSalesPurchasePurchaseSalesTotalsProb

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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