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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 purchases
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 Activities March 1 March 5 Beginning inventory Purchase March 9 Sales March 18 March 25 Purchase Purchase Units Acquired at Cost 180 units $70 per unit 480 units @ $75 per unit 280 units @ $80 per unit 360 units @ $82 per unit Units Sold at Retail 500 units @ $105 per unit March 29 Sales Totals 1,300 units 320 units @ $115 per unit 820 units For specific identification, units sold include 90 units from beginning inventory, 410 units from the March 5 purchase, 120 units from the March 18 purchase, and 200 units from the March 25 purchase. Required: 1. Compute cost of goods available for sale and the number of units available for sale. Beginning inventory Purchases: March 5 March 18 March 25 Total Cost of Goods Available for Sale # of Units 0 Cost per Unit Cost of Goods Available for Sale $ 0 0 0
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