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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 and
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. Units Sold at Retail Units Acquired at Cost 120 units @ $55 per unit 420 units @ $60 per unit Date Activities Mar. 1 Beginning inventory Mar. 5 Purchase Mar. 9 Sales Mar. 18 Purchase Mar. 25 Purchase Mar. 29 Sales Totals | 10 units @ $90 per unit 160 units @ $65 per unit 240 units @ $67 per unit 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. 2. Compute the number of units in ending inventory, Ending inventory units
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