Specific identification for specific identification the

Reference no: EM13587786

Warnerwoods Company uses a perpetual inventory system. It entered into the following purchases and sales transactions for March.

Mar. 1 Beginning inventory 100 units @ $50 per unit

Mar. 5 Purchase 400 units @ $55 per unit

Mar. 9 Sales 420 units @ $85 per unit

Mar. 18 Purchase 120 units @ $60 per unit

Mar. 25 Purchase 200 units @ $62 per unit

Mar. 29 Sales 160 units @ $95 per unit

Totals 820 units 580 units

LIFO:

Weighted Average Perpetual:

Specific identification (for specific identification, the March 9 sale consisted of 80 units from beginning inventroy and 340 units from the March 5 purchase; the March 29 sale consisted of 40 units from the March 18 purchase and 120 units from the March 25 purchase.):

Compute gross profit earned by the company for each of the 3 costing methods

Reference no: EM13587786

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