Required information Problem 5-1A Perpetual: Alternative cost flows LO P1 (The following information applies to...
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Required information Problem 5-1A Perpetual: Alternative cost flows LO P1 (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 Activities Mar. 1 Beginning inventory Mar. 5 Purchase Mar. 9 Sales Units Acquired at Cost Units Sold at Retail @ $52.80 per 190 units unit @ $57.80 per 270 units unit @ $87.80 per 350 units unit @ $62.80 per 130 units unit @ $64.80 per 240 units unit @ $97.80 per 220 units unit 830 units 570 units Mar.18 Purchase Mar.25 Purchase Mar.29 Sales Totals Problem 5-1A Part 3 3. Compute the cost assigned to ending inventory using (a) FIFO, (b) LIFO, (c) weighted average, and (d) specific identification. For specific identification, the March 9 sale consisted of 110 units from beginning inventory and 240 units from the March 5 purchase; the March 29 sale consisted of 90 units from the March 18 purchase and 130 units from the March 25 purchase. Complete this question by entering your answers in the tabs below. Perpetual Perpetual Weighted Specific FIFO LIFO Average Id
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