Required information Problem 6-2AA (Algo) Periodic: Alternative cost flows LO P3 [The following information applies to the questions displayed below.] Warnerwoods Company uses a periodic inventory system. It entered into the following purchases and sales transactions for March. Date March 1 March 5 Units Sold at Retail Activities Beginning inventory Purchase March 9 Sales March 18 Purchase March 25 Purchase March 29 Sales Totals 210 units @ $105 per unit 655 units For specific identification, units sold include 80 units from beginning inventory, 365 units from the March 5 purchase, 65 units from the March 18 purchase, and 145 units from the March 25 purchase. Units Acquired at Cost 125 units @ $60 per unit 425 units @ $65 per unit 170 units @ $70 per unit 250 units @ $72 per unit 970 units 445 units @ $95 per.unit

Required information Problem 6-2AA (Algo) Periodic: Alternative cost flows LO P3 [The following information applies to the questions displayed below.] Warnerwoods Company uses a periodic inventory system. It entered into the following purchases and sales transactions for March. Date March 1 March 5 Units Sold at Retail Activities Beginning inventory Purchase March 9 Sales March 18 Purchase March 25 Purchase March 29 Sales Totals 210 units @ $105 per unit 655 units For specific identification, units sold include 80 units from beginning inventory, 365 units from the March 5 purchase, 65 units from the March 18 purchase, and 145 units from the March 25 purchase. Units Acquired at Cost 125 units @ $60 per unit 425 units @ $65 per unit 170 units @ $70 per unit 250 units @ $72 per unit 970 units 445 units @ $95 per.unit

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Description: esRequired informationProblem 6-2AA (Algo) Periodic: Alternative cost flows LO P3[The following information applies to the questions displayed below.]Warnerwoods Company uses a periodic inventory system. It entered into the following purchases and s

Cornerstones of Financial Accounting

4th Edition

ISBN:9781337690881

Author:Jay Rich, Jeff Jones

Publisher:Jay Rich, Jeff Jones

Chapter6: Cost Of Goods Sold And Inventory

Section: Chapter Questions

Problem 64E: ( Appendix 6B) Inventory Costing Methods: Periodic System Harrington Company had the following data...

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( Appendix 6B) Inventory Costing Methods: Periodic Inventory Systems. Refer to the information for Tyler Company in Brief Exercise 6-35 and assume that the company uses the periodic inventory system. Required: Calculate the cost of goods sold and the cost of ending inventory using the FIFO, LIFO, and average cost methods. ( Note: Use four decimal places for per-unit calculations and round all other numbers to the nearest whole dollar.)
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