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Part 3 of 4 Problem 6-1A (Algo) Perpetual: Alternative cost flows LO P1...

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Accounting

Part 3 of 4
Problem 6-1A (Algo) Perpetual: Alternative cost flows LO P1
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Warnerwoods Company uses a perpetual inventory system. It entered into the following purchases and sales transactions for March.
\table[[Date,Activities,Units,Acquired at cost,Units Sold at Retail],[March 1,Beginning inventory,190 units,@ $52.80 per unit,s],[March 5,Purchase,270 units,@ $57.80 per unit,],[March 9,Sales,,,350 units @ $87.80 per unit],[March 18,Purchase,130 units,@$62.80 per unit,],[\table[[March 25],[March 29]],\table[[Purchase],[Sales]],240 units,@$64.80 per unit,220 units a $97.80-oer unit],[,Totals,830 units,,570 units]]
Problem 6-1A (Algo) Part 3
3. Compute the cost assigned to ending inventory using (a) FIFO, (b) LIFO, (c) weighted aqverage, and (c) specific identification. For specific identification, units sold include 110 units from beginning Inventory, 240 units from the March 5 purchase, 90 units from the March 18 purchase, and 130 units from the March 25 purchase.
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