Warnerwoods Company uses a periodic inventory system. It entered into the following purchases and sales transactions for March. Date March 1 March 5 March 9 March 18 March 25 March 29 Activities Beginning inventory Purchase. Sales Purchase Purchase Sales Totals Units Acquired at Cost 200 units @ $90 per unit 500 units @ $95 per unit Problem 5-2AA (Algo) Part 3 320 units @ $100 per unit 400 units @ $102 per unit 1,420 units 1 Units Sold at Retail 520 units @ $125 per un 360 units $135 per un 880 units For specific identification, units sold include 70 units from beginning inventory, 450 units from the March 5 purchase, 140 units from the March 18 purchase, and 220 units from the March 25 purchase. 3. Compute the cost assigned to ending inventory using (a) FIFO. (b) LIFO, (c) weighted average, and (d) specific identification. Note: Round your "average cost per unit" to 2 decimal places.

Warnerwoods Company uses a periodic inventory system. It entered into the following purchases and sales transactions for March. Date March 1 March 5 March 9 March 18 March 25 March 29 Activities Beginning inventory Purchase. Sales Purchase Purchase Sales Totals Units Acquired at Cost 200 units @ $90 per unit 500 units @ $95 per unit Problem 5-2AA (Algo) Part 3 320 units @ $100 per unit 400 units @ $102 per unit 1,420 units 1 Units Sold at Retail 520 units @ $125 per un 360 units $135 per un 880 units For specific identification, units sold include 70 units from beginning inventory, 450 units from the March 5 purchase, 140 units from the March 18 purchase, and 220 units from the March 25 purchase. 3. Compute the cost assigned to ending inventory using (a) FIFO. (b) LIFO, (c) weighted average, and (d) specific identification. Note: Round your "average cost per unit" to 2 decimal places.

Name: Ashavinbhai Warnerwoods Company uses a periodic inventory system. It e
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Description: Ashavinbhai Warnerwoods Company uses a periodic inventory system. It entered into the following purchasesand sales transactions for March.DateMarch 1March 5March 9March 18March 25March 291ActivitiesBeginning inventoryPurchaseSalesPurchasePurchaseSale

Financial And Managerial Accounting

15th Edition

ISBN:9781337902663

Author:WARREN, Carl S.

Publisher:WARREN, Carl S.

Chapter6: Inventories

Section: Chapter Questions

Problem 5PB: Pappas Appliances uses the periodic inventory system. Details regarding the inventory of appliances...

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