Warnerwoods Company uses a perpetual inventory system. It entered into the following purchases and sales transactions fo
Posted: Mon Apr 25, 2022 7:30 am
Warnerwoods Company uses a perpetual inventory system. It
entered into the following purchases and sales transactions for
March.
3. 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.
entered into the following purchases and sales transactions for
March.
3. 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.