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Warnerwoods Company uses a perpetual Inventory system. It entered into the following purchases and sales transactions for March. (For specific identification, units sold consist of 80 units from beginning inventory, 340 units for the March 5 purchase, 40 units from the March 18 purchase, and 120 units from the March 25 purchase.
REQUIRED 1. Compute the 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 identification.
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Excel Sheets – Inventory and Receivable
APA
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