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Required information [The following information applies to the questions displayed below.] Warnerwoods...

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Question

Accounting

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 transactions
for March.
Compute the cost assigned to ending inventory using (a) FIFO, (b) LIFO, (c) weighted average, and (d) specific identification. For
specific identification, the March 9 sale consisted of 80 units from beginning inventory and 340 units from the March 5 purchase; the
March 29 sale consisted of 40 units from the March 18 purchase and 120 units from the March 25 purchase.
Complete this question by entering your answers in the tabs below.
Compute the cost assigned to ending inventory using FIFO.
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