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I need help with computing the gross profit Warnerwoods Company uses a perpetual inventory system. It entered into the following purchases and sales transactions for
I need help with computing the gross profit
Warnerwoods Company uses a perpetual 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 | 110 | units | @ $51.20 per unit | |||||||
Mar. | 5 | Purchase | 230 | units | @ $56.20 per unit | |||||||
Mar. | 9 | Sales | 270 | units | @ $86.20 per unit | |||||||
Mar. | 18 | Purchase | 90 | units | @ $61.20 per unit | |||||||
Mar. | 25 | Purchase | 160 | units | @ $63.20 per unit | |||||||
Mar. | 29 | Sales | 140 | units | @ $96.20 per unit | |||||||
Totals | 590 | units | 410 | units | ||||||||
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