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Required information [The following information applies to the questions displayed below.] Warnerwoods Company uses a perpetual inventory system. It entered into the following purchases and
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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 | 230 | units | @ $53.60 per unit | |||||||
Mar. | 5 | Purchase | 290 | units | @ $58.60 per unit | |||||||
Mar. | 9 | Sales | 390 | units | @ $88.60 per unit | |||||||
Mar. | 18 | Purchase | 150 | units | @ $63.60 per unit | |||||||
Mar. | 25 | Purchase | 280 | units | @ $65.60 per unit | |||||||
Mar. | 29 | Sales | 260 | units | @ $98.60 per unit | |||||||
Totals | 950 | units | 650 | units | ||||||||
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