LEASE FILL OUT THE CHART. use the following information to complete it. Thank you! 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 160 units @ $52.20 per unit March 5 Purchase 255 units @ $57.20 per unit March 9 Sales 320 units @ $87.20 per unit March 18 Purchase 115 units @ $62.20 per unit
LEASE FILL OUT THE CHART. use the following information to complete it. Thank you! 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 160 units @ $52.20 per unit March 5 Purchase 255 units @ $57.20 per unit March 9 Sales 320 units @ $87.20 per unit March 18 Purchase 115 units @ $62.20 per unit
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
Related questions
Topic Video
Question
PLEASE FILL OUT THE CHART. use the following information to complete it. Thank you!
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 | 160 | units | @ $52.20 per unit | |||
March 5 | Purchase | 255 | units | @ $57.20 per unit | |||
March 9 | Sales | 320 | units | @ $87.20 per unit | |||
March 18 | Purchase | 115 | units | @ $62.20 per unit | |||
March 25 | Purchase | 210 | units | @ $64.20 per unit | |||
March 29 | Sales | 190 | units | @ $97.20 per unit | |||
Totals | 740 | units | 510 | units |
![Date
March 1
March 5
Average March 5
March 9
March 18
Average March 18
March 25
Average March 25
March 29
Totals
Goods Purchased
# of units
255 at
Cost per
unit
$57.20
115 at $ 62.20
# of units
sold
320 at
Cost of Goods Sold
Cost per unit
$
54.70
Cost of Goods Sold
$ 17,504.00
$ 17,504.00
# of units
Inventory Balance
Cost per
unit
160 at
$
160 at $
255 at $
415 at
$
95 at
$
95 at
115 at
210 at
$
$
Inventory Balance
52.20 = $ 8,352.00
$
52.20
57.20 =
54.70 = $
54.70 = $
54.70 = $
62.20 =
$
8,352.00
14,586.00
22,938.00
5,196.50
5,196.50
7,153.00
12,349.50](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fb70494bc-b0cc-4b3e-9d9f-2cf1e39ecbed%2F8e50cd50-26d7-41ae-8b88-1b1f55e22395%2Fqt8g1bk_processed.jpeg&w=3840&q=75)
Transcribed Image Text:Date
March 1
March 5
Average March 5
March 9
March 18
Average March 18
March 25
Average March 25
March 29
Totals
Goods Purchased
# of units
255 at
Cost per
unit
$57.20
115 at $ 62.20
# of units
sold
320 at
Cost of Goods Sold
Cost per unit
$
54.70
Cost of Goods Sold
$ 17,504.00
$ 17,504.00
# of units
Inventory Balance
Cost per
unit
160 at
$
160 at $
255 at $
415 at
$
95 at
$
95 at
115 at
210 at
$
$
Inventory Balance
52.20 = $ 8,352.00
$
52.20
57.20 =
54.70 = $
54.70 = $
54.70 = $
62.20 =
$
8,352.00
14,586.00
22,938.00
5,196.50
5,196.50
7,153.00
12,349.50
![Date
March 1
March 5
Average March 5
March 9
March 18
Average March 18
March 25
Average March 25
March 20
1
Goods Purchased
# of units
255 at
Cost per
unit
$57.20
115 at $62.20
# of units
sold
320 at
Weighted Average Perpetual:
Cost of Goods Sold
Cost per unit
$
54.70
Cost of Goods Sold
= $ 17,504.00
# of units
160 at
$
160 at $
255 at $
415 at
$
$
95 at $
115 at $
210 at
Inventory Balance
Cost per
unit
95 at
Inventory Balance
$
8,352.00
$
8,352.00
14,586.00
$ 22,938.00
5,196.50
52.20
52.20 =
57.20 =
54.70 =
54.70 = $
$
54.70 =
62.20 =
=
$
5,196.50
7,153.00
12,349.50](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fb70494bc-b0cc-4b3e-9d9f-2cf1e39ecbed%2F8e50cd50-26d7-41ae-8b88-1b1f55e22395%2Fiomn3w_processed.jpeg&w=3840&q=75)
Transcribed Image Text:Date
March 1
March 5
Average March 5
March 9
March 18
Average March 18
March 25
Average March 25
March 20
1
Goods Purchased
# of units
255 at
Cost per
unit
$57.20
115 at $62.20
# of units
sold
320 at
Weighted Average Perpetual:
Cost of Goods Sold
Cost per unit
$
54.70
Cost of Goods Sold
= $ 17,504.00
# of units
160 at
$
160 at $
255 at $
415 at
$
$
95 at $
115 at $
210 at
Inventory Balance
Cost per
unit
95 at
Inventory Balance
$
8,352.00
$
8,352.00
14,586.00
$ 22,938.00
5,196.50
52.20
52.20 =
57.20 =
54.70 =
54.70 = $
$
54.70 =
62.20 =
=
$
5,196.50
7,153.00
12,349.50
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