Question
Activities Beginning inventory 135 units Warnerwoods Company uses a periodic inventory system. It entered into the following purchases and sales transactions for March. Date
Activities Beginning inventory 135 units Warnerwoods Company uses a periodic inventory system. It entered into the following purchases and sales transactions for March. Date March 1 Units Acquired at Cost Units sold at Retail $70 per unit March 5 Purchase 435 units $75 per unit March 9 Sales 455 units $105 per unit March 18 March 25 March 29 Purchase Purchase Sales Totals 190 units 270 units 1,030 units $80 per unit $82 per unit 230 units $115 per unit 685 units For specific identification, units sold include 80 units from beginning inventory, 375 units from the March 5 purchase, 75 units from the March 18 purchase, and 155 units from the March 25 purchase. Required: 1. Compute cost of goods available for sale and the number of units available for sale. Beginning inventory Purchases March 5 March 18 March 25 Total Cost of Goods Available for Sale Cost per Cost of Goods Available # of Units Unit for Sale S 0 0 0 0
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