Please don't give handwritten answer..thanku !Required information[The following information applies to the questions displayed below.]Warnerwoods Company uses a perpetual inventory system. It entered into the following purchases and sales transactionsfor March.DateMarch 1March 5March 9.March 18March 25March 29Gross MarginActivitiesBeginning inventoryPurchase.SalesPurchasePurchaseSalesTotals:SalesLess Cost of goods soldGross profitFIFOUnits Acquired at Cost170 units @ $52.40 per unit260 units @ $57.40 per unitLIFO120 units220 units770 units4. Compute gross profit earned by the company for each of the four costing methods. For specific identification, units sold include 100units from beginning inventory, 230 units from the March 5 purchase, 80 units, from the March 18 purchase, and 120 units from theMarch 25 purchase. (Round weighted average cost per unit to two decimals and final answers to nearest whole dollar.)@ $62.40 per unit@ $64.40 per unitWeightedAverageUnits Sold at RetailSpecific ID330 units@ $87.40 per unit200 units @ $97.40 per unit530 units

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Description: Please don't give handwritten answer..thanku !Required information[The following information applies to the questions displayed below.]Warnerwoods Company uses a perpetual inventory system. It entered into the following purchases and sales transactio

Sales {(330*87.4)+(200*97.4)}= 48,322 Cost of goods sold(18092+11980)=30,072 Gross Profit…

Business

Accounting

Warnerwoods Company uses a perpetual 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 170 units @ $52.40 per unit 260 units @ $57.40 per unit 120 units @ $62.40 per unit 220 units @ $64.40 per unit 770 units Units Sold at Retail 330 units @ $87.40 per unit 200 units @ $97.40 per unit 530 units

Warnerwoods Company uses a perpetual 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 170 units @ $52.40 per unit 260 units @ $57.40 per unit 120 units @ $62.40 per unit 220 units @ $64.40 per unit 770 units Units Sold at Retail 330 units @ $87.40 per unit 200 units @ $97.40 per unit 530 units

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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