Warnerwoods Company uses a periodic inventory system. It entered into the following purchases and sales transactions for March. Date March 1 March 5 Activities Beginning inventory Purchase Units Acquired at Cost 160 units @ $50 per unit 460 units e $55 per unit Units Sold at Retail March 9 Sales 480 units @ $85 per unit March 18 Purchase March 25 Purchase 240 units @ $60 per unit 320 units @$62 per unit March 29 Sales Totals 1,180 units 280 units @ $95 per unit 760 units For specific identification, units sold include 60 units from beginning inventory, 420 units from the March 5 purchase, 100 units from the March 18 purchase, and 180 units from the March 25 purchase. 2. Compute the number of units in ending inventory. Ending inventory units

Principles of Accounting Volume 1
19th Edition
ISBN:9781947172685
Author:OpenStax
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Chapter10: Inventory
Section: Chapter Questions
Problem 10EA: Calculate the cost of goods sold dollar value for A67 Company for the month, considering the...
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Warnerwoods Company uses a periodic inventory system. It entered into the following purchases and sales transactions
for March.
Date
March 1
March 5
Activities
Beginning inventory
Purchase
Units Acquired at Cost
160 units @ $50 per unit
460 units e $55 per unit
Units Sold at Retail
March 9
Sales
480 units @ $85 per unit
March 18
Purchase
March 25
Purchase
240 units @ $60 per unit
320 units @$62 per unit
March 29
Sales
Totals
1,180 units
280 units @ $95 per unit
760 units
For specific identification, units sold include 60 units from beginning inventory, 420 units from the March 5 purchase, 100
units from the March 18 purchase, and 180 units from the March 25 purchase.
2. Compute the number of units in ending inventory.
Ending inventory
units
Transcribed Image Text:Warnerwoods Company uses a periodic inventory system. It entered into the following purchases and sales transactions for March. Date March 1 March 5 Activities Beginning inventory Purchase Units Acquired at Cost 160 units @ $50 per unit 460 units e $55 per unit Units Sold at Retail March 9 Sales 480 units @ $85 per unit March 18 Purchase March 25 Purchase 240 units @ $60 per unit 320 units @$62 per unit March 29 Sales Totals 1,180 units 280 units @ $95 per unit 760 units For specific identification, units sold include 60 units from beginning inventory, 420 units from the March 5 purchase, 100 units from the March 18 purchase, and 180 units from the March 25 purchase. 2. Compute the number of units in ending inventory. Ending inventory units
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