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 Purchase Purchase Sales Totals Beginning inventory Purchases: March 5 March 18 March 25 Units Acquired at Cost @ $53.40 per unit @ $58.40 per unit # of units 220 units. 285 units. Cost per Unit 145 units. 270 units Required: 1. Compute cost of goods available for sale and the number of units available for sale. 920 units Cost of Goods Available for Sale @ $63.40 per unit. @ $65.40 per unit. Cost of Goods Available for Sale Units Sold at Retail. 380 units @ $88.40 per unit 250 units @ $98.40 per unit 630 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. Date March 1 March 5 March 9 March 18 March 25 March 29 Activities Beginning inventory Purchase Sales Purchase Purchase Sales Totals Beginning inventory Purchases: March 5 March 18 March 25 Units Acquired at Cost @ $53.40 per unit @ $58.40 per unit # of units 220 units. 285 units. Cost per Unit 145 units. 270 units Required: 1. Compute cost of goods available for sale and the number of units available for sale. 920 units Cost of Goods Available for Sale @ $63.40 per unit. @ $65.40 per unit. Cost of Goods Available for Sale Units Sold at Retail. 380 units @ $88.40 per unit 250 units @ $98.40 per unit 630 units
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Question
4
![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
Beginning inventory
Purchases:
March 5
March 18
March 25
Activities
Beginning inventory
Purchase
Sales
Total
Purchase
Purchase
Sales
Totals
Units Acquired at Cost
220 units @ $53.40 per unit
285 units @ $58.40 per unit
145 units
270 units
Required:
1. Compute cost of goods available for sale and the number of units available for sale.
# of units
920 units
Cost of Goods Available for Sale
@ $63.40 per unit!
@ $65.40 per unit
Cost per Cost of Goods Available
Unit
for Sale
Units Sold at Retail
380 units@ $88.40 per unit
250 units @ $98.40 per unit
630 units
4](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F3872d851-27db-40d9-8fe5-69d396345726%2Fd0be1b8d-df23-443e-a01e-808a204b1138%2Ffej4602_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. .:
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
Total
Purchase
Purchase
Sales
Totals
Units Acquired at Cost
220 units @ $53.40 per unit
285 units @ $58.40 per unit
145 units
270 units
Required:
1. Compute cost of goods available for sale and the number of units available for sale.
# of units
920 units
Cost of Goods Available for Sale
@ $63.40 per unit!
@ $65.40 per unit
Cost per Cost of Goods Available
Unit
for Sale
Units Sold at Retail
380 units@ $88.40 per unit
250 units @ $98.40 per unit
630 units
4
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