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Question;Warnerwoods company uses a perpetual inventory system. It entered;into the following purchases and sales transactions for march. (for specific identification;the march 9 sale consisted of 80 units from beginning inventory 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.)I need to know: 1. FIFO method;Cost of Goods Sold;Ending Inventory;2. LIFO method;Cost of Goods Sold;Ending Inventory;3. Weighted Average method;Cost of Goods Sold;Ending Inventory;4. Which inventory method would report the;highest Net Income?;5. When prices are rising (inflation), which;inventory method would result in the highest Net Income?


Paper#40219 | Written in 18-Jul-2015

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