[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 @ $50 per unit @ $55 per unit 100 units 400 units # of units 120 units 200 units 820 units Required: 1. Compute cost of goods available for sale and the number of units available for sale. Cost of Goods Available for Sale @ $60 per unit @ $62 per unit Cost per Cost of Goods Available Unit for Sale Units Sold at Retail 420 units @ $85 per unit 160 units 580 units @ $95 per unit
[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 @ $50 per unit @ $55 per unit 100 units 400 units # of units 120 units 200 units 820 units Required: 1. Compute cost of goods available for sale and the number of units available for sale. Cost of Goods Available for Sale @ $60 per unit @ $62 per unit Cost per Cost of Goods Available Unit for Sale Units Sold at Retail 420 units @ $85 per unit 160 units 580 units @ $95 per unit
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Question
![[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
@ $50 per unit
@ $55 per unit
100 units
400 units
# of units
120 units
200 units
820 units
Required:
1. Compute cost of goods available for sale and the number of units available for sale.
Cost of Goods Available for Sale
@ $60 per unit
@ $62 per unit
Cost per Cost of Goods Available
Unit
for Sale
Units Sold at Retail
420 units @ $85 per unit
160 units
580 units
@ $95 per unit](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F32e093d2-04ff-4430-b07d-1b00898e3439%2F793f3103-a294-4cfb-8291-4e4d856c98b9%2F8nuggcl_processed.png&w=3840&q=75)
Transcribed Image Text:[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
@ $50 per unit
@ $55 per unit
100 units
400 units
# of units
120 units
200 units
820 units
Required:
1. Compute cost of goods available for sale and the number of units available for sale.
Cost of Goods Available for Sale
@ $60 per unit
@ $62 per unit
Cost per Cost of Goods Available
Unit
for Sale
Units Sold at Retail
420 units @ $85 per unit
160 units
580 units
@ $95 per unit
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