Problem 5-1A (Static) Perpetual: Alternative cost flows LO P1[The following information applies to the questions displayed below.]Warnerwoods Company uses a perpetual inventory system. It entered into the following purchases and sales transactionsfor March.DateMarch 1March 5March 9March 18March 25March 29ActivitiesBeginning inventoryPurchases:March 5March 18March 25Beginning inventoryPurchaseSalesProblem 5-1A (Static) Part 1TotalPurchasePurchaseSalesTotalsUnits Acquired at Cost@ $50 per unit@$55 per unit# of units100 units400 unitsRequired:1. Compute cost of goods available for sale and the number of units available for sale.Cost perUnit120 units200 units820 unitsCost of Goods Available for Sale@ $60 per unit@ $62 per unitCost of Goods Availablefor SalePrey1 2 34 of 4MacBook AirUnits Sold at Retail420 units160 units580 units@ $85 per unit@ $95 per unitNext >F11

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Description: Problem 5-1A (Static) Perpetual: Alternative cost flows LO P1[The following information applies to the questions displayed below.]Warnerwoods Company uses a perpetual inventory system. It entered into the following purchases and sales transactionsfo

calculation of cost of goods available for sale are as follows

Business

Accounting

Problem 5-1A (Static) Perpetual: Alternative cost flows LO P1 [The following information applies to the questions displayed below.] Warnerwoods Company uses a perpetual inventory system. It entered into the following purchases and sales transactions for March. Date March 1 March 5 March 9 March 18 March 25 March 29 Activities Beginning inventory Purchase Sales. Purchase Purchase Sales Totals Problem 5-1A (Static) Part 1 Units Acquired at Cost e $50 per unit e $55 per unit. 100 units 400 units 120 units 200 units 820 units e $60 per unit e $62 per unit Units Sold at Retail 420 units @ $85 per unit 160 units 580 units @ $95 per unit

Problem 5-1A (Static) Perpetual: Alternative cost flows LO P1 [The following information applies to the questions displayed below.] Warnerwoods Company uses a perpetual inventory system. It entered into the following purchases and sales transactions for March. Date March 1 March 5 March 9 March 18 March 25 March 29 Activities Beginning inventory Purchase Sales. Purchase Purchase Sales Totals Problem 5-1A (Static) Part 1 Units Acquired at Cost e $50 per unit e $55 per unit. 100 units 400 units 120 units 200 units 820 units e $60 per unit e $62 per unit Units Sold at Retail 420 units @ $85 per unit 160 units 580 units @ $95 per unit

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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