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 Total Beginning inventory Purchases: March 5 March 18 March 25 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 Required: 1. Compute cost of goods available for sale and the number of units available for sale. 70 units @ $60.40 per unit 120 units @ $62.40 per unit # of units 470 units Cost of Goods Available for Sale Cost per Cost of Goods Available Unit for Sale Units Sold at Retail 230 units@ $85.40 per unit 100 units @ $95.40 per unit 330 units
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 Total Beginning inventory Purchases: March 5 March 18 March 25 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 Required: 1. Compute cost of goods available for sale and the number of units available for sale. 70 units @ $60.40 per unit 120 units @ $62.40 per unit # of units 470 units Cost of Goods Available for Sale Cost per Cost of Goods Available Unit for Sale Units Sold at Retail 230 units@ $85.40 per unit 100 units @ $95.40 per unit 330 units
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
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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
March 9
March 18
March 25
March 29
Total
Beginning inventory
Purchases:
March 5
March 18
March 25
Activities
Beginning inventory
Purchase
Sales
Purchase
Purchase
Sales
Totals
Units Acquired at Cost
70 units
210 units
# of units
70 units
120 units
Required:
1. Compute cost of goods available for sale and the number of units available for sale.
470 units
Cost of Goods Available for Sale
@$50.40 per unit.
@$55.40 per unit
@ $60.40 per unit
@$62.40 per unit
Cost per Cost of Goods Available
Unit
for Sale
Units Sold at Retail.
230 units @ $85.40 per unit
100 units @ $95.40 per unit
330 units](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fc7fe5a73-45e4-4166-8ba1-50e355550dfc%2F1e5c4cf1-90c1-474c-ae97-d16aee33d982%2Fstdzdz4_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
Total
Beginning inventory
Purchases:
March 5
March 18
March 25
Activities
Beginning inventory
Purchase
Sales
Purchase
Purchase
Sales
Totals
Units Acquired at Cost
70 units
210 units
# of units
70 units
120 units
Required:
1. Compute cost of goods available for sale and the number of units available for sale.
470 units
Cost of Goods Available for Sale
@$50.40 per unit.
@$55.40 per unit
@ $60.40 per unit
@$62.40 per unit
Cost per Cost of Goods Available
Unit
for Sale
Units Sold at Retail.
230 units @ $85.40 per unit
100 units @ $95.40 per unit
330 units
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