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 Beginning inventory Purchases: Total March 5 March 18 March 25 Activities Beginning inventory Purchase Sales Purchase Purchase Sales Totals Required: 1. Compute cost of goods available for sale and the number of units available for sale. Units Acquired at Cost $50 per unit $55 per unit # of units 100 units 400 units Cost per Unit 120 units 200 units 820 units Cost of Goods Available for Sale 560 per unit $62 per unit Cost of Goods Available for Sale Units Sold at Retail 420 units $85 per unit 160 units 580 unita $95 per unit
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 Beginning inventory Purchases: Total March 5 March 18 March 25 Activities Beginning inventory Purchase Sales Purchase Purchase Sales Totals Required: 1. Compute cost of goods available for sale and the number of units available for sale. Units Acquired at Cost $50 per unit $55 per unit # of units 100 units 400 units Cost per Unit 120 units 200 units 820 units Cost of Goods Available for Sale 560 per unit $62 per unit Cost of Goods Available for Sale Units Sold at Retail 420 units $85 per unit 160 units 580 unita $95 per unit
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 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
Beginning inventory.
Purchases
March 5
March 18
March 25
Total
Activities
Beginning inventory
Purchase
Sales
Purchase.
Purchase
Sales
Totals
Units Acquired at Cost
$50 per unit
$55 per unit
Required:
1. Compute cost of goods available for sale and the number of units available for sale.
of units
100 units
400 units
Cost per
Unit
120 units
200 units
820 units
Cost of Goods Available for Sale
e $60 per unit
e $62 per unit
Cost of Goods Available
for Sale
Units Sold at Retail
420 units @ $85 per unit
160 units
580 units.
e $95 per unit](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fddad5d86-091d-4493-90be-ef5753132bfd%2Fc1af804a-a6bf-4f3a-8794-5921786a7521%2Fxi9a7za_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
Beginning inventory.
Purchases
March 5
March 18
March 25
Total
Activities
Beginning inventory
Purchase
Sales
Purchase.
Purchase
Sales
Totals
Units Acquired at Cost
$50 per unit
$55 per unit
Required:
1. Compute cost of goods available for sale and the number of units available for sale.
of units
100 units
400 units
Cost per
Unit
120 units
200 units
820 units
Cost of Goods Available for Sale
e $60 per unit
e $62 per unit
Cost of Goods Available
for Sale
Units Sold at Retail
420 units @ $85 per unit
160 units
580 units.
e $95 per unit
![!
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
Activities
Beginning inventory
Purchase
Sales
Purchase
Purchase
Sales
Totals
2. Compute the number of units in ending inventory.
Ending inventory
units
Units Acquired at Cost
e $50 per unit
$55 per unit
100 units
400 units
120 units
200 units
820 units
$60 per unit
@ $62 per unit
Units Sold at Retail
420 units
e $85 per unit
160 units @ $95 per unit
580 units](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fddad5d86-091d-4493-90be-ef5753132bfd%2Fc1af804a-a6bf-4f3a-8794-5921786a7521%2Fd5d9gj_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
Activities
Beginning inventory
Purchase
Sales
Purchase
Purchase
Sales
Totals
2. Compute the number of units in ending inventory.
Ending inventory
units
Units Acquired at Cost
e $50 per unit
$55 per unit
100 units
400 units
120 units
200 units
820 units
$60 per unit
@ $62 per unit
Units Sold at Retail
420 units
e $85 per unit
160 units @ $95 per unit
580 units
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