Answer Happy

[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. Date Units Acquired at Cost Units Bold at Retail March 1 Activities Beginning inventory Purchase 120 units 235 unite $51.40 per unit $56.40 per unit March 5 March 9 Sales Purchase 280 units $86.40 per unit March 18 March 25 95 unita 170 units $61.40 per unit 563.40 per unit Purchase March 29 Sales 150 units# $96.40 per unit Totals 620 unite 430 unite Required: 1. Compute cost of goods available for sale and the number of units available for sale. Cost of Goods Available for Sale # of units Cost per Cost of Goods Available Unit for Sale Beginning inventory Purchases March 5 March 18 March 25 Total
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 Activities Units Acquired at Cost Unita Sold at Retail Date March 1 March 5 March 9 Beginning inventory Purchase Sales 120 units 235 units $51.40 per unit $56.40 per unit 280 units 586.40 per unit March 18 Purchase 95 units 170 units March 25 Purchase $61.40 per unit $63.40 per unit March 29 Sales 150 units $96.40 per unit 430 unita Totals 620 unite 2. Compute the number of units in ending inventory. Ending inventory units
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 Weighted Average Specific Id Compute the cost assigned to ending inventory using FIFO. Perpetual FIFO: Goods Purchased Date Cost of Goods Sold Cost per unit Cost per # of units unit sold Inventory Balance Cost per unit $51.40 = # of units March 1 March 5 Total March 5 March 9 Total March 9 March 18 Total March 18 Cost of Goods Sold # of units 120 at Inventory Balance $ 6,168.00
art 4 of 4 33 pints eBook References 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 bate Units sold at Retail Activities Beginning inventory Purchase March 1 March 5 March 9 March 19 March 25 Sales Purchase Units Acquired at Coat 120 unite $51.40 per unit 235 unita# $56.40 per unit 95 units # $61.40 per unit 170 units $63.40 per unit 620 unita 280 units #586.40 per unit Purchase March 29 Sales 150 unice $96.40 per unit Totale 430 units 4. Compute gross profit earned by the company for each of the four costing methods. 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. (Round weighted average cost per unit to two decimals and final answers to nearest whole dollar) Gross Margin FIFO LIFO Weighted Average Specific ID Sales Less: Cost of goods sold Gross profit