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 Units Acquired at Cost $53.60 per unit $58.60 per unit 230 units 290 units 150 units 200 unite 950 units $63.60 per unit $65.60 per unit Units Sold at Retail 390 unite# $86.60 per unit 260 unite $98.60 per unit 650 units
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 Units Acquired at Cost $53.60 per unit $58.60 per unit 230 units 290 units 150 units 200 unite 950 units $63.60 per unit $65.60 per unit Units Sold at Retail 390 unite# $86.60 per unit 260 unite $98.60 per unit 650 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 9RE: RE7-8 Johnson Company uses a perpetual inventory system. On October 23, Johnson purchased 100,000 of...
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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 11
March 5
March 9
March 18
March 25
March 29
Beginning inventory
Purchases
March 5
March 18
March 25
Activities
Beginning inventory
Purchase
Sales
Purchase
Purchase.
Total
Sales
Totals
Units Acquired at Cost
230 units
290 units
# of units
Required:
1. Compute cost of goods available for sale and the number of units available for sale.
150 units $63.60 per unit
200 unite# $65.60 per unit
950 units
$53.60 per unit
$58.60 per unit
Cost of Goods Available for Sale
Cost per Cost of Goods Available
Unit
for Sale
Units Sold at Retail
390 units# $88.60 per unit
260 units $98.60 per unit
650 units](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F9855cb7a-5db1-4294-9de9-4e629d51bb96%2F2299dd20-6d9f-47c9-bce9-9d1f6209e5f3%2F6jg6e3j_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 11
March 5
March 9
March 18
March 25
March 29
Beginning inventory
Purchases
March 5
March 18
March 25
Activities
Beginning inventory
Purchase
Sales
Purchase
Purchase.
Total
Sales
Totals
Units Acquired at Cost
230 units
290 units
# of units
Required:
1. Compute cost of goods available for sale and the number of units available for sale.
150 units $63.60 per unit
200 unite# $65.60 per unit
950 units
$53.60 per unit
$58.60 per unit
Cost of Goods Available for Sale
Cost per Cost of Goods Available
Unit
for Sale
Units Sold at Retail
390 units# $88.60 per unit
260 units $98.60 per unit
650 units
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