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 Units Acquired at Cost 220 units @ $53.40 per unit 285 units @ $58.40 per unit Required: 1. Compute cost of goods available for sale and the number of units available for sale. 145 units @ $63.40 per unit 270 units @ $65.40 per unit # of units 920 units Cost of Goods Available for Sale 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
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 Units Acquired at Cost 220 units @ $53.40 per unit 285 units @ $58.40 per unit Required: 1. Compute cost of goods available for sale and the number of units available for sale. 145 units @ $63.40 per unit 270 units @ $65.40 per unit # of units 920 units Cost of Goods Available for Sale 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
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Question
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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 29
Beginning inventory
Purchases:
March 5
March 18
March 25
Activities
Beginning inventory
Purchase
Sales
Purchase
Purchase
Sales
Totals
Units Acquired at Cost
220 units @ $53.40 per unit
285 units @ $58.40 per unit
Required:
1. Compute cost of goods available for sale and the number of units available for sale.
145 units @ $63.40 per unit
270 units @ $65.40 per unit
# of units
920 units
Cost of Goods Available for Sale
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](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F27c9ffc8-caf5-4a01-9236-94db3faf410c%2Ff67abbe9-64ee-4fbe-bf0b-0c599e1d9b24%2F0vkkqa9_processed.png&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 29
Beginning inventory
Purchases:
March 5
March 18
March 25
Activities
Beginning inventory
Purchase
Sales
Purchase
Purchase
Sales
Totals
Units Acquired at Cost
220 units @ $53.40 per unit
285 units @ $58.40 per unit
Required:
1. Compute cost of goods available for sale and the number of units available for sale.
145 units @ $63.40 per unit
270 units @ $65.40 per unit
# of units
920 units
Cost of Goods Available for Sale
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
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