March 1 March 5 March 9 Activities Beginning inventory Purchase Warnerwoods Company uses a periodic inventory...

 

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March 1 March 5 March 9 Activities Beginning inventory Purchase Warnerwoods Company uses a periodic inventory system. It entered into the following purchases and sales transactions for March. Date Units Acquired at Cost 115 units @ $50 per unit Units Sold at Retail 415 units @$55 per unit Sales 435 units $85 per unit March 18 Purchase March 25 March 29 Sales Totals Purchase 150 units 230 units @ $60 per unit @ $62 per unit 910 units 190 units @$95 per unit 625 units For specific identification, units sold include 50 units from beginning inventory, 385 units from the March 5 purchase, 55 units from the March 18 purchase, and 135 units from the March 25 purchase. Problem 6-2AA (Algo) Part 1 Required: 1. Compute cost of goods available for sale and the number of units available for sale. Cost of Goods Available for Sale Beginning inventory Purchases March 5 March 18 March 25 Total # of Units Cost per Unit Cost of Goods Available for Sale 0 10 0 0 0 March 1 March 5 March 9 Activities Beginning inventory Purchase Warnerwoods Company uses a periodic inventory system. It entered into the following purchases and sales transactions for March. Date Units Acquired at Cost 115 units @ $50 per unit Units Sold at Retail 415 units @$55 per unit Sales 435 units $85 per unit March 18 Purchase March 25 March 29 Sales Totals Purchase 150 units 230 units @ $60 per unit @ $62 per unit 910 units 190 units @$95 per unit 625 units For specific identification, units sold include 50 units from beginning inventory, 385 units from the March 5 purchase, 55 units from the March 18 purchase, and 135 units from the March 25 purchase. Problem 6-2AA (Algo) Part 1 Required: 1. Compute cost of goods available for sale and the number of units available for sale. Cost of Goods Available for Sale Beginning inventory Purchases March 5 March 18 March 25 Total # of Units Cost per Unit Cost of Goods Available for Sale 0 10 0 0 0

Answer rating: 100% (QA)

1 Beginning Inventory Units 115 Cost per unit 50 Total Cost 115 units 50unit ... View the full answer