Required information [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 Total Date March 1 March 5 March 9 March 18. March 25 Harch 201 Beginning inventory Purchases March 5 March 18 March 25 Activities Beginning inventory Purchase Sales Purchase Purchase Sales Totals Units Acquired at Cost @ $54.00 per unit @ $59.00 per unit 250 units 300 units # of units 160 units 300 units Required: 1. Compute cost of goods available for sale and the number of units available for sale 1,010 units Cost of Goods Available for Sale @ $64.00 per unit @566.00 per unit Cost per Cost of Goods Available Unit for Sale Units Sold at Retail 410 units @ $89.00 per unit. 200 units @ $99.00 per unit 690 units
Required information [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 Total Date March 1 March 5 March 9 March 18. March 25 Harch 201 Beginning inventory Purchases March 5 March 18 March 25 Activities Beginning inventory Purchase Sales Purchase Purchase Sales Totals Units Acquired at Cost @ $54.00 per unit @ $59.00 per unit 250 units 300 units # of units 160 units 300 units Required: 1. Compute cost of goods available for sale and the number of units available for sale 1,010 units Cost of Goods Available for Sale @ $64.00 per unit @566.00 per unit Cost per Cost of Goods Available Unit for Sale Units Sold at Retail 410 units @ $89.00 per unit. 200 units @ $99.00 per unit 690 units
Cornerstones of Financial Accounting
4th Edition
ISBN:9781337690881
Author:Jay Rich, Jeff Jones
Publisher:Jay Rich, Jeff Jones
Chapter6: Cost Of Goods Sold And Inventory
Section: Chapter Questions
Problem 7MCQ
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![Required information
[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
Total
Date
March 1
March 5
March 9
March 18,
March 25,
March 201
Beginning inventory
Purchases
March 5
March 181
March 25
Activities
Beginning Inventory
Purchase
Sales
Purchase
Purchase
Sales
Totals
Units Acquired at Cost
@ $54.00 per unit
@ $59.00 per unit
# of units
250 units
300 units
Required:
1. Compute cost of goods available for sale and the number of units available for sale
Cost per
Unit
160 units
300 units
1,000 units
Cost of Goods Available for Sale
@ $54.00 per unit
@566.00 per unit
Cost of Goods Available
for Sale
Units Sold at Retail
410 units @ $89.00 per unit.
200 units@ $99.00 per unit
690 units](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F933c0c63-eb3d-4c0d-ad59-3bf2a496afd3%2Fe96038be-e45a-40a6-a173-3034618a00e3%2Fc6gpddu_processed.jpeg&w=3840&q=75)
Transcribed Image Text:Required information
[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
Total
Date
March 1
March 5
March 9
March 18,
March 25,
March 201
Beginning inventory
Purchases
March 5
March 181
March 25
Activities
Beginning Inventory
Purchase
Sales
Purchase
Purchase
Sales
Totals
Units Acquired at Cost
@ $54.00 per unit
@ $59.00 per unit
# of units
250 units
300 units
Required:
1. Compute cost of goods available for sale and the number of units available for sale
Cost per
Unit
160 units
300 units
1,000 units
Cost of Goods Available for Sale
@ $54.00 per unit
@566.00 per unit
Cost of Goods Available
for Sale
Units Sold at Retail
410 units @ $89.00 per unit.
200 units@ $99.00 per unit
690 units
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