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! Required information [The following information applies to the questions displayed below.] Warnerwoods Company uses a periodic inventory system. It entered into the following
! Required information [The following information applies to the questions displayed below.] Warnerwoods Company uses a periodic inventory system. It entered into the following purchases and sales transactions for March. Date March 1 March 5 Activities Beginning inventory Purchase March 9 Sales March 18 Purchase March 25 March 29 Purchase Sales Totals Units Acquired at Cost 135 units @ $70 per unit 435 units @ $75 per unit 190 units @ $80 per unit 270 units @ $82 per unit 1,030 units Units Sold at Retail 455 units @ $105 per unit 230 units @$115 per unit 685 units For specific identification, the March 9 sale consisted of 80 units from beginning inventory and 375 units from the March 5 purchase; the March 29 sale consisted of 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. Cost of Goods Available for Sale Cost per Cost of Goods Available # of Units Unit for Sale Beginning inventory $ Purchases: March 5 March 18 March 25 Total 0 0 0
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