Question: Required information Problem 5-1AA Periodic: Alternative cost flows LO P1 [The following information applies to the questions displayed below.] Warnerwoods Company uses a periodic inventory
Required information Problem 5-1AA Periodic: Alternative cost flows LO P1 [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 Units sold at Retail Units Acquired at Cost 115 units @ $50 per unit 415 units @ $55 per unit Date Activities Mar. 1 Beginning inventory Mar. 5 Purchase Mar. 9 Sales Mar. 18 Purchase Mar. 25 Purchase Mar. 29 Sales Totals 435 units@ $85 per unit 150 units $60 per unit 230 units@ $62 per unit 910 units 190 units @ $95 per unit 625 units For specific identification, the March 9 sale consisted of 50 units from beginning inventory and 385 units from the March 5 purchase, the March 29 sale consisted of 55 units from the March 18 purchase and 135 units from the March 25 purchase. Problem 5-1AA Part 1 Required: 1. Compute cost of goods available for sale and the number of units available for sale
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