Required information

Problem 6-1A Perpetual: Alternative cost flows LO P1

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[The following information applies to the questions displayed below.] 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

100

units

@ $51.00 per unit

Mar.

5

Purchase

225

units

@ $56.00 per unit

Mar.

9

Sales

260

units

@ $86.00 per unit

Mar.

18

Purchase

85

units

@ $61.00 per unit

Mar.

25

Purchase

150

units

@ $63.00 per unit

Mar.

29

Sales

130

units

@ $96.00 per unit

Totals

560

units

390

units

Problem 6-1A Part 1

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 Unit	Cost of Goods Available for Sale
Beginning inventory
Purchases:
March 5
March 18
March 25
Total