Required information Problem 6-1A Perpetual: Alternative cost flows LO P1 Skip to question ...
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Accounting
Required information
Problem 6-1A Perpetual: Alternative cost flows LO P1
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[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
Units Acquired at Cost
Units Sold at Retail
Mar.
1
Beginning inventory
100
units
@ $51.00 per unit
Mar.
5
Purchase
225
units
@ $56.00 per unit
Mar.
9
Sales
260
units
@ $86.00 per unit
Mar.
18
Purchase
85
units
@ $61.00 per unit
Mar.
25
Purchase
150
units
@ $63.00 per unit
Mar.
29
Sales
130
units
@ $96.00 per unit
Totals
560
units
390
units
Problem 6-1A Part 3
Complete this question by entering your answers in the tabs below.
Perpetual FIFO
Perpetual LIFO
Weighted Average
Specific Id
Answer & Explanation
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