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I need help on this assignment please, thank you :) This one ask different stuff to fill in. Warnerwoods Company uses a periodic inventory system.
I need help on this assignment please, thank you :) This one ask different stuff to fill in.
Warnerwoods Company uses a periodic inventory system. It entered into the following purchases and sales transactions for March. |
Date | Activities | Units Acquired at Cost | Units Sold at Retail | |||||||||
Mar. | 1 | Beginning inventory | 100 | units | @ $50 per unit | |||||||
Mar. | 5 | Purchase | 400 | units | @ $55 per unit | |||||||
Mar. | 9 | Sales | 420 | units | @ $85 per unit | |||||||
Mar. | 18 | Purchase | 120 | units | @ $60 per unit | |||||||
Mar. | 25 | Purchase | 200 | units | @ $62 per unit | |||||||
Mar. | 29 | Sales | 160 | units | @ $95 per unit | |||||||
Totals | 820 | units | 580 | units | ||||||||
For specific identification, the March 9 sale consisted of 80 units from beginning inventory and 340 units from the March 5 purchase; the March 29 sale consisted of 40 units from the March 18 purchase and 120 units from the March 25 purchase. |
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