Warnerwoods Company uses a perpetual inventory system. It entered into the following purchase and sale...
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Accounting
Warnerwoods Company uses a perpetual inventory system. It entered into the following purchase and sale transactions for March: Date Activity Units acquired at cost Units sold at retail March 1 beginning inventory 100 units @ $50/unit March 5 purchase 400 units @ $55/unit March 9 sale 420 units @ $85/unit March 18 purchase 120 units @ $60/unit March 25 purchase 200 units @ $62/unit March 29 sale 160 units @ $95/unit TOTALS 820 units 580 units Compute the cost of goods sold for the month using LIFO. $32,248 $31,800 $14,800 $32,920 $13,680 $50,900
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