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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

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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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
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
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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