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11 Part 3 of 4 Required information Problem 6-1A (Algo) Perpetual: Alternative...

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Accounting

11
Part 3 of 4
Required information
Problem 6-1A (Algo) Perpetual: Alternative cost flows LO P1
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Warnerwoods Company uses a perpetual inventory system. It entered into the following purchases and sales transactions for March.
Problem 6-1A (Algo) Part 3
3. Compute the cost assigned to ending inventory using (a) FIFO, (b) LIFO, (c) welghted aqverage, and (d) specific identification. For specific identification, units sold include 110 units from beginning inventory, 240 units from the March 5 purchase, 90 units from the March 18 purchase, and 130 units from the March 25 purchase.
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