Can I please get help with this question and an explaination on how it was done please. 7.2 Warnerwoods Company uses a perpetual inventory system. It entered into the following purchases and sales transactions for March. Date Activities Units Acquired at Cost Units Sold at Retail March 1 Beginning inventory 90 units @ $50.80 per unit March 5 Purchase 220 units @ $55.80 per unit March 9 Sales 250 units @ $85.80 per unit March 18 Purchase 80 units @ $60.80 per unit March 25 Purchase 140 units @ $62.80 per unit March 29 Sales 120 units @ $95.80 per unit Totals 530 units 370 units Required: 1. Compute cost of goods available for sale and the number of units available for sale.
Can I please get help with this question and an explaination on how it was done please. 7.2 Warnerwoods Company uses a perpetual inventory system. It entered into the following purchases and sales transactions for March. Date Activities Units Acquired at Cost Units Sold at Retail March 1 Beginning inventory 90 units @ $50.80 per unit March 5 Purchase 220 units @ $55.80 per unit March 9 Sales 250 units @ $85.80 per unit March 18 Purchase 80 units @ $60.80 per unit March 25 Purchase 140 units @ $62.80 per unit March 29 Sales 120 units @ $95.80 per unit Totals 530 units 370 units Required: 1. Compute cost of goods available for sale and the number of units available for sale.
Chapter1: Financial Statements And Business Decisions
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Can I please get help with this question and an explaination on how it was done please.
7.2
Warnerwoods Company uses a perpetual inventory system. It entered into the following purchases and sales transactions for March.
| Date | Activities | Units Acquired at Cost | Units Sold at Retail | ||||
|---|---|---|---|---|---|---|---|
| March 1 | Beginning inventory | 90 | units | @ $50.80 per unit | |||
| March 5 | Purchase | 220 | units | @ $55.80 per unit | |||
| March 9 | Sales | 250 | units | @ $85.80 per unit | |||
| March 18 | Purchase | 80 | units | @ $60.80 per unit | |||
| March 25 | Purchase | 140 | units | @ $62.80 per unit | |||
| March 29 | Sales | 120 | units | @ $95.80 per unit | |||
| Totals | 530 | units | 370 | units |
Required:
1. Compute cost of goods available for sale and the number of units available for sale.
Transcribed Image Text:Required:
1. Compute cost of goods available for sale and the number of units available for sale.
Beginning inventory
Purchases:
March 5
March 18
March 25
Total
Cost of Goods Available for Sale
# of units
Cost per
Unit
Cost of Goods Available
for Sale
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