[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 Problem 5-1A (Static) Part 1 Unita Acquired at Cost 100 units @ $50 per unit 400 units $55 per unit 120 units 200 units 820 unita e $60 per unit e $62 per unit Required: 1. Compute cost of goods available for sale and the number of units available for sale. Cost of Goods Available for Sale Unita Sold at Retail 420 units $85 per unit 160 unita 580 units $95 per unit
[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 Problem 5-1A (Static) Part 1 Unita Acquired at Cost 100 units @ $50 per unit 400 units $55 per unit 120 units 200 units 820 unita e $60 per unit e $62 per unit Required: 1. Compute cost of goods available for sale and the number of units available for sale. Cost of Goods Available for Sale Unita Sold at Retail 420 units $85 per unit 160 unita 580 units $95 per unit
Cornerstones of Financial Accounting
4th Edition
ISBN:9781337690881
Author:Jay Rich, Jeff Jones
Publisher:Jay Rich, Jeff Jones
Chapter6: Cost Of Goods Sold And Inventory
Section: Chapter Questions
Problem 44E: Perpetual and Periodic Inventory Systems Below is a list of inventory systems options. a. Perpetual...
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