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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 March 1 March 5 March 9 March 18 March 25 March 29 Activities Beginning inventory Purchase Sales Purchase Purchase Sales 160 units 240 units Units Acquired at Cost 120 units @$55 per unit 420 units @ $60 per unit $65 per unit $67 per unit Units Sold at Retail 440 units $90 per unit Totals 940 units 200 units @$100 per unit 640 units For specific identification, the March 9 sale consisted of 40 units from beginning inventory and 400 units from the March 5 purchase, the March 29 sale consisted of 60 units from the March 18 purchase and 140 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 Cost per Unit Cost of Goods Available for Sale $ 0 0 0 0 0
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