[The following information applies to the questions displayed below.] Warnerwoods Company uses a perpetual inventory system. It entered into the following purchases and sales transact for March. Date March 1 March 5 March 9 March 18 March 25 March 29 Activities Beginning inventory Purchase Sales Purchase Purchase Sales Totals Units Acquired at Cost 70 units @$50.40 per unit 210 units @ $55.40 per unit 70 units @ $60.40 per unit 120 units @ $62.40 per unit 470 units Units Sold at Retail 230 units @ $85.40 per unit 100 units @ $95.40 per uni 330 units
[The following information applies to the questions displayed below.] Warnerwoods Company uses a perpetual inventory system. It entered into the following purchases and sales transact for March. Date March 1 March 5 March 9 March 18 March 25 March 29 Activities Beginning inventory Purchase Sales Purchase Purchase Sales Totals Units Acquired at Cost 70 units @$50.40 per unit 210 units @ $55.40 per unit 70 units @ $60.40 per unit 120 units @ $62.40 per unit 470 units Units Sold at Retail 230 units @ $85.40 per unit 100 units @ $95.40 per uni 330 units
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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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
March 1
March 5
Activities
Beginning inventory
Purchase
March 9
Sales
March 18
March 25
March 29
Sales
Totals
Purchase
Purchase
Units Acquired at Cost
70 units @ $50.40 per unit
210 units @ $55.40 per unit
70 units @ $60.40 per unit
120 units @ $62.40 per unit
470 units
Units Sold at Retail
230 units @ $85.40 per unit
100 units @ $95.40 per unit
330 units
Required:
1. 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](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fc923b500-6c7a-449c-abb6-538d4698df0e%2Fb2ba3c91-54d4-4e7a-87ab-03760f382ab3%2F5ljhujj_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
Activities
Beginning inventory
Purchase
March 9
Sales
March 18
March 25
March 29
Sales
Totals
Purchase
Purchase
Units Acquired at Cost
70 units @ $50.40 per unit
210 units @ $55.40 per unit
70 units @ $60.40 per unit
120 units @ $62.40 per unit
470 units
Units Sold at Retail
230 units @ $85.40 per unit
100 units @ $95.40 per unit
330 units
Required:
1. 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
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