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 29 Beginning inventory Purchases: March 5 March 18 March 25 Activities Beginning inventory Purchase Sales Purchase Purchase. Sales Totals Required: 1. Compute cost of goods available for sale and the number of units available for sale. # of units 230 Cost of Goods Available for Sale 290 150 280 950 $ Units Acquired at Cost 230 units@ $53.60 per unit 290 units@ $58.60 per unit 53.60 $ 150 units@ $63.60 per unit 280 units@ $65.60 per unit Cost per Cost of Goods Available Unit for Sale 58.60 63.60 wwwwwwwwww 65.60 950 units $ 12,328 16,994 9,540 18,368 57,230 Units Sold at Retail 390 units@ $88.60 per unit 260 units@ $98.60 per unit 650 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 March 29 Beginning inventory Purchases: March 5 March 18 March 25 Activities Beginning inventory Purchase Sales Purchase Purchase. Sales Totals Required: 1. Compute cost of goods available for sale and the number of units available for sale. # of units 230 Cost of Goods Available for Sale 290 150 280 950 $ Units Acquired at Cost 230 units@ $53.60 per unit 290 units@ $58.60 per unit 53.60 $ 150 units@ $63.60 per unit 280 units@ $65.60 per unit Cost per Cost of Goods Available Unit for Sale 58.60 63.60 wwwwwwwwww 65.60 950 units $ 12,328 16,994 9,540 18,368 57,230 Units Sold at Retail 390 units@ $88.60 per unit 260 units@ $98.60 per unit 650 units
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Requesting a double check as I stuggle with this course.
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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.
| Date | Activities | Units Acquired at Cost | Units Sold at Retail |
|------------|---------------------|------------------------------------------- |------------------------------------------- |
| March 1 | Beginning inventory | 230 units @ $53.60 per unit | |
| March 5 | Purchase | 290 units @ $58.60 per unit | |
| March 9 | Sales | | 390 units @ $88.60 per unit |
| March 18 | Purchase | 150 units @ $63.60 per unit | |
| March 25 | Purchase | 280 units @ $65.60 per unit | |
| March 29 | Sales | | 260 units @ $98.60 per unit |
| **Totals** | | **950 units** | **650 units** |
**Required:**
1. Compute cost of goods available for sale and the number of units available for sale.
---
### Cost of Goods Available for Sale
| # of units | Cost per Unit | Cost of Goods Available for Sale |
|--------------------|---------------|------------------------------------------- |
| Beginning inventory| 230 | $53.60 | $12,328 |
| Purchases: | | | |
| March 5 | 290 | $58.60 | $16,994 |
| March 18 | 150 | $63.60 | $9,540 |
| March 25 | 280 | $65.60 | $18,368 |
| **Total** | **950** | | **$57,230** |
The table shows the calculation for the cost of goods available for sale and the number of units available for sale. Starting with the beginning inventory, Warnerwoods Company purchased additional units at various costs throughout the month. The resulting sums give us the total number of units and their corresponding cost.
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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.
| Date | Activities | Units Acquired at Cost | Units Sold at Retail |
|------------|---------------------|------------------------------------------- |------------------------------------------- |
| March 1 | Beginning inventory | 230 units @ $53.60 per unit | |
| March 5 | Purchase | 290 units @ $58.60 per unit | |
| March 9 | Sales | | 390 units @ $88.60 per unit |
| March 18 | Purchase | 150 units @ $63.60 per unit | |
| March 25 | Purchase | 280 units @ $65.60 per unit | |
| March 29 | Sales | | 260 units @ $98.60 per unit |
| **Totals** | | **950 units** | **650 units** |
**Required:**
1. Compute cost of goods available for sale and the number of units available for sale.
---
### Cost of Goods Available for Sale
| # of units | Cost per Unit | Cost of Goods Available for Sale |
|--------------------|---------------|------------------------------------------- |
| Beginning inventory| 230 | $53.60 | $12,328 |
| Purchases: | | | |
| March 5 | 290 | $58.60 | $16,994 |
| March 18 | 150 | $63.60 | $9,540 |
| March 25 | 280 | $65.60 | $18,368 |
| **Total** | **950** | | **$57,230** |
The table shows the calculation for the cost of goods available for sale and the number of units available for sale. Starting with the beginning inventory, Warnerwoods Company purchased additional units at various costs throughout the month. The resulting sums give us the total number of units and their corresponding cost.
---
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