Accounting Practice problem 5

ork Required Saved LI HIE IUINUVIIly II IIIIIIQUIVII applies W WII quesuUIIS uIsplayeu WEIUVV.J Warnerwoods Company uses a periodic inventory system. It entered into the following purchases and sales transactions for March. Date Activities Mar. 1 Beginning inventory Units Acquired at Cost Units Sold at Retail Mar. 5 Purchase 130 units @ $65 per unit 430 units @ $70 per unit Mar. 9 Sales Mar. 18 Purchase 450 units @ $100 per unit 180 units @ $75 per unit Mar. 25 Purchase 260 units @ $77 per unit Mar. 29 Sales 220 units @ $110 per unit Totals 1, 000 units 670 units For specific identification, the March 9 sale consisted of 70 units from beginning inventory and 380 units from the March 5 purchase; the March 29 sale consisted of 70 units from the March 18 purchase and 150 units from the March 25 purchase. 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 O Purchases: March 5 O March 18 O March 25 O Total O