Required information Problem 5-1A Perpetual: Alternative cost flows LO P1 [The following information applies to the questions displayed below.j Warnerwoods Company uses a perpetual inventory system. It entered into the following purchases and sales transactions for Marchh Activities Units Sold at Retail Units Acquired at Cost 60 units $50.20 per unit 205 units $55.20 per unit Date Mar. 1 Beginning inventory Mar. 5 Purchase Mar. 9 Sales Mar. 18 Purchase Mar. 25 Purchase Mar. 29 Sales 220 units $85.20 per unit 65 units $60.20 per unit 110 units $62.20 per unit 90 unitse $95.20 per unit 310 units Totals 440 units Problem 5-1A Part 4 4. Compute gross profit earned by the company for each of the four costing methods. For specific identification, the March 9 sale consisted of 45 units from beginning inventory and 175 units from the March 5 purchase; the March 29 sale consisted of 25 units from the March 18 purchase and 65 units from the March 25 purchase. (Round weighted average cost per unit to two decimals and final answers to nearest whole dollar.) Gross Margin Sales Less: Cost of goods sold Gross profit FIFO LIFO Avg. Cost Spec. ID 17,037.00 17,667.00 17,290.90 17,314.00



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