2. Compute the number of units in ending inventory. Ending inventory 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 11E: Alternative Inventory Methods Nevens Company uses a periodic inventory system. During November, the...
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![Required information
[The following information applies to the questions displayed below.]
Warnerwoods Company uses a periodic 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
Ending inventory
2. Compute the number of units in ending inventory.
Units Acquired at Cost
130 units @ $65 per unit
430 units @ $70 per unit
180 units @ $75 per unit
260 units @ $77 per unit
1,000 units
E units
Units Sold at Retail
For specific identification, units sold include 70 units from beginning inventory, 380 units from the March 5 purchase, 70
units from the March 18 purchase, and 150 units from the March 25 purchase.
450 units @ $100 per unit
220 units @ $110 per unit
670 units](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F6180c222-579c-4bcd-8566-2598c6065bb7%2Fcba0fd7f-ffc9-45df-8456-6c2782dfc7a7%2Fm3mnewf_processed.jpeg&w=3840&q=75)
Transcribed Image Text:Required information
[The following information applies to the questions displayed below.]
Warnerwoods Company uses a periodic 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
Ending inventory
2. Compute the number of units in ending inventory.
Units Acquired at Cost
130 units @ $65 per unit
430 units @ $70 per unit
180 units @ $75 per unit
260 units @ $77 per unit
1,000 units
E units
Units Sold at Retail
For specific identification, units sold include 70 units from beginning inventory, 380 units from the March 5 purchase, 70
units from the March 18 purchase, and 150 units from the March 25 purchase.
450 units @ $100 per unit
220 units @ $110 per unit
670 units
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