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Marlow Company uses a perpetual inventory system. During the year, it entered into the following purchases and sales transactions. Date Activities Jan. 1 Beginning
Marlow Company uses a perpetual inventory system. During the year, it entered into the following purchases and sales transactions. Date Activities Jan. 1 Beginning inventory Feb. 10 Purchase Mar. 13 Purchase Mar 15 Sales Aug. 21 Purchase Sept. 5 Purchase Sept. 10 Sales Totals Units Acquired at Cost 840 units @ $44 per unit 260 units @ $40 per unit 220 units @ $20 per unit Units Sold at Retail 460 units @ $75 per unit 220 units @ $60 per unit 340 units @ $48 per unit 1,880 units 380 units @ $75 per unit 840 units Required: 1. Compute cost of goods available for sale and the number of units available for sale. Cost of goods available for sale Number of units available for sale units 2. Compute the number of units in ending inventory. Ending inventory units
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