Warnerwoods Company uses a perpetual inventory system. It entered into the following purchases and sales transactions for March. Date March 1 Activities Beginning inventory Purchase Sales March 5 March 9 March 18 Purchase March 25 Purchase March 29 Sales Totals 2. Compute the number of units in ending inventory. Ending inventory units Units Acquired at Cost 130 units @ $51.60 per unit 240 units @ $56.60 per unit Units Sold at Retail 100 units @ $61.60 per unit 180 units @ $63.60 per unit 650 units 290 units @ $86.60 per unit 160 units $96.60 per unit 450 units

Intermediate Accounting: Reporting And Analysis
3rd Edition
ISBN:9781337788281
Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Chapter7: Inventories: Cost Measurement And Flow Assumptions
Section: Chapter Questions
Problem 12RE: Carla Company uses the perpetual inventory system. The following information is available for...
icon
Related questions
Question
Warnerwoods Company uses a perpetual inventory system. It entered into the following purchases and sales transactions
for March.
Date
March 1
Activities
Beginning inventory
Purchase
Sales
March 5
March 9
March 18
Purchase
March 25
Purchase
March 29
Sales
Totals
2. Compute the number of units in ending inventory.
Ending inventory
units
Units Acquired at Cost
130 units @ $51.60 per unit
240 units @ $56.60 per unit
Units Sold at Retail
100 units @ $61.60 per unit
180 units @ $63.60 per unit
650 units
290 units @ $86.60 per unit
160 units $96.60 per unit
450 units
Transcribed Image Text:Warnerwoods Company uses a perpetual inventory system. It entered into the following purchases and sales transactions for March. Date March 1 Activities Beginning inventory Purchase Sales March 5 March 9 March 18 Purchase March 25 Purchase March 29 Sales Totals 2. Compute the number of units in ending inventory. Ending inventory units Units Acquired at Cost 130 units @ $51.60 per unit 240 units @ $56.60 per unit Units Sold at Retail 100 units @ $61.60 per unit 180 units @ $63.60 per unit 650 units 290 units @ $86.60 per unit 160 units $96.60 per unit 450 units
Expert Solution
steps

Step by step

Solved in 2 steps

Blurred answer
Similar questions
  • SEE MORE QUESTIONS
Recommended textbooks for you
Intermediate Accounting: Reporting And Analysis
Intermediate Accounting: Reporting And Analysis
Accounting
ISBN:
9781337788281
Author:
James M. Wahlen, Jefferson P. Jones, Donald Pagach
Publisher:
Cengage Learning
College Accounting (Book Only): A Career Approach
College Accounting (Book Only): A Career Approach
Accounting
ISBN:
9781337280570
Author:
Scott, Cathy J.
Publisher:
South-Western College Pub
Financial And Managerial Accounting
Financial And Managerial Accounting
Accounting
ISBN:
9781337902663
Author:
WARREN, Carl S.
Publisher:
Cengage Learning,
Financial Accounting
Financial Accounting
Accounting
ISBN:
9781337272124
Author:
Carl Warren, James M. Reeve, Jonathan Duchac
Publisher:
Cengage Learning
Principles of Accounting Volume 1
Principles of Accounting Volume 1
Accounting
ISBN:
9781947172685
Author:
OpenStax
Publisher:
OpenStax College
Survey of Accounting (Accounting I)
Survey of Accounting (Accounting I)
Accounting
ISBN:
9781305961883
Author:
Carl Warren
Publisher:
Cengage Learning