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Required information Problem 6-1A (Algo) Perpetual: Alternative cost flows LO P1 [The...

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Accounting

Required information
Problem 6-1A (Algo) Perpetual: Alternative cost flows LO P1
[The following information applies to the questions displayed below.]
Warnerwoods Company uses a perpetual inventory system. It entered into the following purchases and sales transactions for March.
\table[[Date,Activities,Units Acquired at Cost,Units Sold at Retail],[\table[[March 1],[March 5]],\table[[Beginning inventory],[Purchase]],120 units @ $51.40 per unit,],[March 9,\table[[Purchase],[Sales]],235 units @ $56.40 per unit,280 units @ $86.40 per unit],[March 18,Purchase,95 units a $61.40 per unit],[March 29,Purchase,170 units @ $63.40 per unit],[Sales,,150 units @ $96.40 per unit],[Totals,620 units,430 units]]
Problem 6-1A (Algo) Part 3
3. Compute the cost assigned to ending inventory using (a) FIFO, (b) LIFO, (c) weighted average, and (d) specific identification. For specific identification, units sold include 75 units from beginning inventory, 205 units from the March 5 purchase, 55 units from the March 18 purchase, and 95 units from the March 25 purchase.
Complete this question by entering your answers in the tabs below.
Perpetual FIFO Perpetual LIFO
\table[[Weighted],[Average]] Specific Id
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