Business, 19.08.2020 19:01 tylerfaich

The following information applies to the questions displayed belowWarnerwoods Company uses a perpetual inventory system. It entered into the following purchases and sales transactions for March Date Activities Units Sold at Cost Units Sold at Retal Mar. 1 Beginning 130 units $51.60 per unit 2 inventory Mar. 5 Purchase 240 units $56.60 per unit Mar. 9 Sales 290 units $86.60 per unit Mar. 18 Purchase 100 units $61.60 per unitMar. 25 Purchase 180 units $63.60 per unitMar. 29 Sales 160 units a $96.60 per unit Totals 650 units 450 units. Compute gross profit earned by the company for each of the four costing methods. For specific identification, the March 9 sale consisted of 80 units from beginning inventory and 210 units from the March 5 purchase; the March 29 sale consisted of 60 units from the March 18 purchase and 100 units from the March 25 purchase. Gross Margin FIFO LIFO Avg. Cost Spec. IDSales Less: Cost of goods sold 25,220.00 26,340.00 25,679.60 26,070.00Gross profit LIFO

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The following information applies to the questions displayed belowWarnerwoods Company uses a perpetu...

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