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.DateActivitiesUnits Acquired at CostUnits Sold at RetailMarch 1Beginning inventory160units@ $52.20 per unit March 5Purchase255units@ $57.20 per unit March 9Sales 320units@ $87.20 per unitMarch 18Purchase115units@ $62.20 per unit March 25Purchase210units@ $64.20 per unit March 29Sales 190units@ $97.20 per unit Totals740units 510units DateMarch 1March 5Average March 5March 9March 18Average March 18March 25Average March 25March 29TotalsGoods Purchased# of units255 atCost perunit$57.20115 at $ 62.20# of unitssold320 atCost of Goods SoldCost per unit$54.70Cost of Goods Sold$ 17,504.00$ 17,504.00# of unitsInventory BalanceCost perunit160 at$160 at $255 at $415 at$95 at$95 at115 at210 at$$Inventory Balance52.20 = $ 8,352.00$52.2057.20 =54.70 = $54.70 = $54.70 = $62.20 =$8,352.0014,586.0022,938.005,196.505,196.507,153.0012,349.50 DateMarch 1March 5Average March 5March 9March 18Average March 18March 25Average March 25March 201Goods Purchased# of units255 atCost perunit$57.20115 at $62.20# of unitssold320 atWeighted Average Perpetual:Cost of Goods SoldCost per unit$54.70Cost of Goods Sold= $ 17,504.00# of units160 at$160 at $255 at $415 at$$95 at $115 at $210 atInventory BalanceCost perunit95 atInventory Balance$8,352.00$8,352.0014,586.00$ 22,938.005,196.5052.2052.20 =57.20 =54.70 =54.70 = $$54.70 =62.20 ==$5,196.507,153.0012,349.50

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Description: 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.DateActivitiesUnits Acquired at CostUni

Gross margin FIFOLIFOAvg ,cost Spec ,id Sales 46,372 46,372 46,372…

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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

Quickbooks Online Accounting

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ISBN:9780357391693

Author:Owen

Publisher:Owen

Chapter4: Operating Activities: Sales And Cash Receipts

Section: Chapter Questions

Problem 1.3C

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Concept explainers

Inventory Valuation

Before discussing the topic inventory valuation let’s discuss the meaning of inventory. In accounting, inventory is also known as stock. Inventory means all the finished goods, materials, merchandise that a business holds for the purpose of selling it in the market with the motive of earning profit.

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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

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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