Compute cost of goods available for sale and the number of units available for sale

Required 1. Compute cost of goods available for sale and the number of units available for sale. 2. Compute the number of units in ending inventory. 3. Compute the cost assigned to ending inventory using (a) FIFO, (b) LIFO, (c) weighted average, and (d) specific identification. (Round all amounts to cents.) 4. Compute gross profit earned by the company for each of the four costing methods in part 3. Transcribed Image Text: Warnerwoods Company uses a perpetual inventory system. It entered into the following purchases and
sales transactions for March. (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.)
Date
Activitles
Units Acquired at Cost
Units Sold at Retall
Mar. 1
100 units @ $50.00 per unit
400 units @ $55.00 per unit
Beginning inventory..
Mar. 5
Purchase..
Mar. 9
Sales …
420 units @ $85.00 per unit
120 units @ $60.00 per unit
200 units @ $62.00 per unit
Mar. 18
Purchase.
Mar. 25
Purchase.
Mar. 29
Sales
160 units @ $95.00 per unit
Totals.
820 units
580 units

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