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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 Acquired at Cost Units Sold at Retail Date Activities Mar. 1 Beginning - inventory Mar. 5 Purchase 175 units @ $65 per unit 475 units @ $70 per unit Mar. 9 Sales 495 units a $100 per unit Mar.18 Purchase 270 units @ $75 per unit Mar.25 Purchase @ $77 per 350 units unit Mar.29 Sales 310 units @ $110 per _unit 805 units Totals 1,270 units For specific identification, the March 9 sale consisted of 80 units from beginning inventory and 415 units from the March 5 purchase; the March 29 sale consisted of 115 units from the March 18 purchase and 195 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 # of Units Cost per Cost of Goods Unit Available for Sale Beginning inventory Purchases: March 5 March 18 March 25 Total
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