Business, 20.03.2020 10:48 turboslayer

He Warnerwoods Company The Warnerwoods Company uses a perpetual inventory system. It entered the following purchases and sales transactions for March into the system: Date Activities Units Acquired at Cost Cost per Unit Units Sold at Retail Price per unit March 1 Beginning inventory 100 units $50 March 5 Purchase 400 units $55 March 9 Sales 420 $85 March 18 Purchase 120 units $60 March 25 Purchase 200 units $62 March 29 Sales 160 units $95 Totals 820 units 580 units Instructions: Show all of your work in an Excel spreadsheet for the following tasks: Compute the number of units available for sale. Compute the number of units in ending inventory. Compute the cost assigned to ending inventory using (a) FIFO, (b) LIFO, and (c) weighted average. (Round the average cost per unit to 2 decimal places.) Compute the gross profit earned by the company for each of the three costing methods. (Round the average cost per unit to 2 decimal places.)

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He Warnerwoods Company The Warnerwoods Company uses a perpetual inventory system. It entered the fol...

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