Warnerwoods Company uses a periodic inventory system. It entered into the following purchases and sales transactions...
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Warnerwoods Company uses a periodic inventory system. It entered into the following purchases and sales transactions for March. Activities Units Acquired at Cost 140 units e $75 per unit 440 units e $8o per unit Date Units Sold at Retail March 1 Beginning inventory Purchase March 5 March 9 Sales 460 units e $110 per unit 200 units e $85 per unit 280 units e $87 per unit March 18 Purchase March 25 Purchase March 29 240 unita e $120 per unit Sales Totals 1,060 units 700 units For specific identification, units sold include 90 units from beginning inventory, 370 units from the March 5 purchase, 80 units from the March 18 purchase, and 160 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 # of Units Cost per Cost of Goods Available Unit for Sale Beginning inventory Purchases: March 5 March 18 March 25 Total Warnerwoods Company uses a periodic inventory system. It entered into the following purchases and sales transactions for March. Activities Units Acquired at Cost 140 units e $75 per unit 440 units e $8o per unit Date Units Sold at Retail March 1 Beginning inventory Purchase March 5 March 9 Sales 460 units e $110 per unit 200 units e $85 per unit 280 units e $87 per unit March 18 Purchase March 25 Purchase March 29 240 unita e $120 per unit Sales Totals 1,060 units 700 units For specific identification, units sold include 90 units from beginning inventory, 370 units from the March 5 purchase, 80 units from the March 18 purchase, and 160 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 # of Units Cost per Cost of Goods Available Unit for Sale Beginning inventory Purchases: March 5 March 18 March 25 Total
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FIFO LIFO Weighted Average Specific Identification Workings a Periodic FIFO Total Units in Ending Inventory Beginning Inventory Purchases March 5 Marc... View the full answer
Related Book For
Fundamental accounting principle
ISBN: 978-0078025587
21st edition
Authors: John J. Wild, Ken W. Shaw, Barbara Chiappetta
Posted Date:
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