Warnerwoods Company uses a periodic inventory system. It entered into the following purchases and sales transactions...

Warnerwoods Company uses a periodic inventory system. It entered into the following purchases and sales transactions for March. Date Activities Units Acquired at Cost Units Sold at Retail Mar. 1 Beginning inventory 140 units @ $75 per unit Mar. 5 Purchase 440 units @ $80 per unit Mar. 9 Sales 460 units @ $110 per unit Mar. 18 Purchase 200 units @ $85 per unit Mar. 25 Purchase 280 units @ $87 per unit Mar. 29 Sales 240 units @ $120 per unit Totals 1,060 units 700 units For specific identification, the March 9 sale consisted of 90 units from beginning inventory and 370 units from the March 5 purchase; the March 29 sale consisted of 80 units from the March 18 purchase and 160 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.

Expert Solution

ekkarill92 answered 1 month ago

Warnerwoods Company uses a periodic inventory system. It entered into the following purchases and sales transactions...

Warnerwoods Company uses a periodic inventory system. It entered into the following purchases and sales transactions for March. Date Activities Units Acquired at Cost Units Sold at Retail Mar. 1 Beginning inventory 130 units @ $65 per unit Mar. 5 Purchase 430 units @ $70 per unit Mar. 9 Sales 450 units @ $100 per unit Mar. 18 Purchase 180 units @ $75 per unit Mar. 25 Purchase 260 units @ $77 per unit Mar. 29 Sales 220 units @...

Warnerwoods Company uses a periodic inventory system. It entered into the following purchases and sales transactions...

Warnerwoods Company uses a periodic inventory system. It entered into the following purchases and sales transactions for March. Date Activities Units Acquired at Cost Units Sold at Retail Mar. 1 Beginning inventory 150 units @ $40 per unit Mar. 5 Purchase 450 units @ $45 per unit Mar. 9 Sales 470 units @ $75 per unit Mar. 18 Purchase 220 units @ $50 per unit Mar. 25 Purchase 300 units @ $52 per unit Mar. 29 Sales 260 units @...

Warnerwoods Company uses a periodic inventory system. It entered into the following purchases and sales transactions...

Warnerwoods Company uses a periodic inventory system. It entered into the following purchases and sales transactions for March. Date Activities Units Acquired at Cost Units Sold at Retail Mar. 1 Beginning inventory 130 units @ $65 per unit Mar. 5 Purchase 430 units @ $70 per unit Mar. 9 Sales 450 units @ $100 per unit Mar. 18 Purchase 180 units @ $75 per unit Mar. 25 Purchase 260 units @ $77 per unit Mar. 29 Sales 220 units @...

Warnerwoods Company uses a periodic inventory system. It entered into the following purchases and sales transactions...

Warnerwoods Company uses a periodic inventory system. It entered into the following purchases and sales transactions for March. Date Activities Units Acquired at Cost Units Sold at Retail Mar. 1 Beginning inventory 105 units @ $40.00 per unit Mar. 5 Purchase 405 units @ $45.00 per unit Mar. 9 Sales 425 units @ $75.00 per unit Mar. 18 Purchase 130 units @ $50.00 per unit Mar. 25 Purchase 210 units @ $52.00 per unit Mar. 29 Sales 170 units @...

Warnerwoods Company uses a periodic inventory system. It entered into the following purchases and sales transactions...

Warnerwoods Company uses a periodic inventory system. It entered into the following purchases and sales transactions for March. Date Activities Units Acquired at Cost Units Sold at Retail Mar. 1 Beginning inventory 145 units @ $80 per unit Mar. 5 Purchase 445 units @ $85 per unit Mar. 9 Sales 465 units @ $115 per unit Mar. 18 Purchase 210 units @ $90 per unit Mar. 25 Purchase 290 units @ $92 per unit Mar. 29 Sales 250 units @...

Warnerwoods Company uses a periodic inventory system. It entered into the following purchases and sales transactions for March.

Warnerwoods Company uses a periodic inventory system. It entered into the following purchases and sales transactions for March. Date Activities Units Acquired at Cost Units Sold at Retail Mar. 1 Beginning inventory 200 units @ $90 per unit Mar. 5 Purchase 500 units @ $95 per unit Mar. 9 Sales 520 units @ $125 per unit ...

Warnerwoods Company uses a perpetual inventory system. It entered into the following purchases and sales transactions...

Warnerwoods Company uses a perpetual inventory system. It entered into the following purchases and sales transactions for March. Date Activities Units Acquired at Cost Units Sold at Retail Mar. 1 Beginning inventory 140 units @ $51.80 per unit Mar. 5 Purchase 245 units @ $56.80 per unit Mar. 9 Sales 300 units @ $86.80 per unit Mar. 18 Purchase 105 units @ $61.80 per unit Mar. 25 Purchase 190 units @ $63.80 per unit Mar. 29 Sales 170 units @...

Warnerwoods Company uses a perpetual inventory system. It entered into the following purchases and sales transactions...

Warnerwoods Company uses a perpetual inventory system. It entered into the following purchases and sales transactions for March. Date Activities Units Acquired at Cost Units Sold at Retail Mar. 1 Beginning inventory 180 units @ $52.60 per unit Mar. 5 Purchase 265 units @ $57.60 per unit Mar. 9 Sales 340 units @ $87.60 per unit Mar. 18 Purchase 125 units @ $62.60 per unit Mar. 25 Purchase 230 units @ $64.60 per unit Mar. 29 Sales 210 units @...

Warnerwoods Company uses a perpetual inventory system. It entered into the following purchases and sales transactions...

Warnerwoods Company uses a perpetual inventory system. It entered into the following purchases and sales transactions for March. Date Activities Units Acquired at Cost Units Sold at Retail Mar. 1 Beginning inventory 120 units @ $51.40 per unit Mar. 5 Purchase 235 units @ $56.40 per unit Mar. 9 Sales 280 units @ $86.40 per unit Mar. 18 Purchase 95 units @ $61.40 per unit Mar. 25 Purchase 170 units @ $63.40 per unit Mar. 29 Sales 150 units @...

Warnerwoods Company uses a perpetual inventory system. It entered into the following purchases and sales transactions...

Warnerwoods Company uses a perpetual inventory system. It entered into the following purchases and sales transactions for March. Date Activities Units Acquired at Cost Units Sold at Retail Mar. 1 Beginning inventory 120 units @ $51.40 per unit Mar. 5 Purchase 235 units @ $56.40 per unit Mar. 9 Sales 280 units @ $86.40 per unit Mar. 18 Purchase 95 units @ $61.40 per unit Mar. 25 Purchase 170 units @ $63.40 per unit Mar. 29 Sales 150 units @...

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Warnerwoods Company uses a periodic inventory system. It entered into the following purchases and sales transactions...

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Warnerwoods Company uses a periodic inventory system. It entered into the following purchases and sales transactions...

Warnerwoods Company uses a periodic inventory system. It entered into the following purchases and sales transactions...

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Warnerwoods Company uses a periodic inventory system. It entered into the following purchases and sales transactions...

Warnerwoods Company uses a periodic inventory system. It entered into the following purchases and sales transactions for March.

Warnerwoods Company uses a perpetual inventory system. It entered into the following purchases and sales transactions...

Warnerwoods Company uses a perpetual inventory system. It entered into the following purchases and sales transactions...

Warnerwoods Company uses a perpetual inventory system. It entered into the following purchases and sales transactions...

Warnerwoods Company uses a perpetual inventory system. It entered into the following purchases and sales transactions...