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. Date March 1 Units Sold at Retail March 5 Activities Beginning inventory Purchase Units Acquired at Cost 100 units @ $51.00 per unit 225 units @ $56.00 per unit March 9 Sales 260 units @ $86.00 per unit March 18 Purchase March 25 85 units @$61.00 per unit 150 units @ $63.00 per unit 560 units 130 units @ $96.00 per unit 390 units March 29 Purchase Sales Totals Required: Compute cost of goods available for sale and the number of units available for sale. Cost of Goods Available for Sale Beginning inventory Purchases: March 5 March 18 March 25 Total # of units Cost per Unit Cost of Goods Available for Sale

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. Date March 1 Units Sold at Retail March 5 Activities Beginning inventory Purchase Units Acquired at Cost 100 units @ $51.00 per unit 225 units @ $56.00 per unit March 9 Sales 260 units @ $86.00 per unit March 18 Purchase March 25 85 units @$61.00 per unit 150 units @ $63.00 per unit 560 units 130 units @ $96.00 per unit 390 units March 29 Purchase Sales Totals Required: Compute cost of goods available for sale and the number of units available for sale. Cost of Goods Available for Sale Beginning inventory Purchases: March 5 March 18 March 25 Total # of units Cost per Unit Cost of Goods Available for Sale

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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Montoure Company uses a perpetual inventory system. It entered into the following calendar-year purchases and sales transactions Activities Units Sold at Retail Unita Acquired at Cost 600 unita $35 per unit 300 unite @ $32 per unit 150 units @ $20 per unit Date. Jan. 1 Beginning inventory Feb. 10 Purchase. Mar. 13 Purchase Mar. 15 Sales Aug. 21 Purchase. Sept. 5 Purchase. Sept. 10 Sales Totaln 190 units @ $40 per unit 540 units $37 per unit Cost of goods available for sale Number of units available for sale 1,780 units 725 units @ $80 per unit Required: 1. Compute cost of goods available for sale and the number of units available for sale. units 730 unite $80 per unit 1,455 unite
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Periodic System― Calculating Ending Inventory and Cost of Sales using FIFO The following information is available for Water Inc. Date Units Unit Cost January 1 (beginning inventory) 200 $50.00 Purchases: January 10 150 52.00 300 52.50 200 55.00 January 15 January 30 The company maintains a periodic inventory system. A physical count shows 250 units in stock on January 31. What is (a) ending inventory on January 31, and (b) cost of goods sold for January, using the FIFO inventory method? • Note: Round your final answers below to the nearest whole dollar. • Note: Use your rounded ending inventory answer to compute part b. cost of goods sold. a. Ending inventory on January 31 $ b. Cost of goods sold for January $ ×
! 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. Date March 1 March 5 March 9 March 18 March 25 March 29 Activities Beginning inventory Purchase Sales Ending inventory Purchase Purchase Sales Totals 2. Compute the number of units in ending inventory. units Units Acquired at Cost $50 per unit e $55 per unit 100 units 400 units 120 units 200 units 820 units e $60 per unit @ $62 per unit Units Sold at Retail 420 units @ $85 per unit 160 units @ $95 per unit 580 units
What are the various forms of interest-bearing transactions?
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. Date March 1 March 5 March 9 March 18 March 25 March 29 Perpetual FIFO Perpetual LIFO Date March 1 March 5 Average March 5 March 9 Activities Beginning inventory Purchase Sales Complete this question by entering your answers in the tabs below. March 18 Purchase Purchase Sales Totals Average March 18 HTT 3. Compute the cost assigned to ending Inventory using (a) FIFO. (b) LIFO. (c) weighted average, and (d) specific Identification. For specific Identification, units sold include 105 units from beginning inventory, 235 units from the March 5 purchase. 85 units from the March 18 purchase, and 125 units from the March 25 purchase. March 25 Average March 25 March 29 Totals Compute the cost assigned to ending inventory using weighted average. Note: Round your average cost per…
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 Activities Units Acquired at Cost Units Sold at Retail Mar. 1 Beginning inventory 190 units @ $52.80 per unit Mar. 5 Purchase 270 units @ $57.80 per unit Mar. 9 Sales 350 units @ $87.80 per unit Mar. 18 Purchase 130 units @ $62.80 per unit Mar. 25 Purchase 240 units @ $64.80 per unit Mar. 29 Sales 220 units @ $97.80 per unit Totals 830 units 570 units Compute cost of goods available for sale and the number of units available for sale.
Reguired information [The following information applies to the questions clisplayed below.] Warnerwoods Company uses a perlodic Inventory system. It entered Into the following purchases and sales transactions for March. Units Acquired at Cost 178 units e $6e per unit 470 units e $65 per unit Date Activities Units Sold at Retail Mar. 1 Beginning inventory Mar. 5 Purchase Mar. 9 Sales Mar. 18 Purchase 490 units e $95 per unit 260 units e $7e per unit 340 units e $72 per unit Mar. 25 Purchase Mar. 29 Sales 300 units e $1e5 per unit Totals 1,240 units 790 units For specific Identification, the March 9 sale consisted of 90 units from beginning Inventory and 400 units from the March 5 purchase; the March 29 sale consisted of 110 units from the March 18 purchase and 190 units from the March 25 purchase. 3. Compute the cost assigned to ending Inventory using (a) FIFO. (b) LIFO. (C) weighted average, and (d) specific Identification. (Round your average cost per unit to 2 decimal places.) a)…
Montoure Company uses a perpetual inventory system. It entered into the following calendar-year purchases and sales transactions Activities Units Sold at Retail Units Acquired at Cost 600 units @ $35 per unit 300 units @ $32 per unit 150 units @ $20 per unit Date Jan. 1 Beginning inventory Feb. 10 Purchase Mar. 13 Purchase Mar. 15 Sales Aug. 21 Purchase Sept. 5 Purchase Sept. 10 Sales Totala 190 unita 540 unita 1,780 units $40 per unit $37 per unit 725 units @ $80 per unit 730 unita $80 per unit 1,455 units
Meman
Can i please get help with this question? 7.4 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 90 units @ $50.80 per unit March 5 Purchase 220 units @ $55.80 per unit March 9 Sales 250 units @ $85.80 per unit March 18 Purchase 80 units @ $60.80 per unit March 25 Purchase 140 units @ $62.80 per unit March 29 Sales 120 units @ $95.80 per unit Totals 530 units 370 units 3. Compute the cost assigned to ending inventory using (a) FIFO, (b) LIFO, (c) weighted average, and (d) specific identification. For specific identification, units sold include 60 units from beginning inventory, 190 units from the March 5 purchase, 40 units from the March 18 purchase, and 80 units from the March 25 purchase.
Bridgeport Inc. uses a perpetual inventory system. Its records show the following for the month of May. Date May May May May 1 Inventory Purchase 15 18 Unit Explanation Units Cost 24 Sale Purchase Total -29 26 (42 ) 40 53 $10 11 12 Total Cost $290 286 480 $1,056