80.2K

Verified Solution

Link Copied!

Required information The following information applies to the questions displayed below) Wamerwoods Company uses a perpetual inventory system. It entered into the following purchases and sales transactions for March Unite Hold at til Units Aquired at Cont 100 units. 566.00 per unit 400 units 171.00 per unit 420 units 5101.00 per unit Date Rotaviti 1 beginning inventory 5 Purchase NE Sales 1Purchase Mar. 25 Purchase r. 29 Sales Totals 120 unitat 576.00 per unit 200 units. 578.00 per unit 160 units. $111.00 per unit 500 units 820 units 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 80 units from beginning inventory and 340 units from the March 5 purchase; the March 29 sale consisted of 40 units from the March 18 purchase and 120 units from the March 25 purchase. Complete this question by entering your answers in the tabs below. Weighted Average Specific id Perpetual Fifo Perpetual LIFO Compute the cost assigned to ending inventory using FIFO. Perpetual FIFO Inventory Balance CAR invanin Cost of Goods Sold Cndner Goods Purchased 3 Next > 4 of 4 HE Required information Perpetual LIFO: Goods Purchased of Date Cost per unit Cost of Goods Sold of units Cost per cost of Goods Sold sold unit Inventory Balance Cost per # of units Inventory unit Balance 100 $66.00 $ 6,800.00 March 1 March 5 March March 18 March 25 March 20 Totals Next > 3 4 of 4

Answer & Explanation Solved by verified expert

See Answer