Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Stuck on this part, not sure where im going wrong. please help d) Specific Identification Cost of Goods Available for Sale Cost of Goods Sold
Stuck on this part, not sure where im going wrong. please help d) Specific Identification Cost of Goods Available for Sale Cost of Goods Sold Ending Inventory Cost per Cost of Goods # of units unit Available for Sale 155 $ 45.00 $ 6,975 # of units sold Cost per Cost of Goods Sold # of units in ending inventory Cost per unit unit Ending Inventory $ 45.00 $ 0 $ 45.00 $ 0 Beginning inventory Purchases March 5 March 18 March 25 Total 0 455 $ 50.00 230 $ 55.00 310 $ 57.00 1,150 22,750 12,650 17,670 $ 60,045 $ 50.00 $ 55.00 $ 57.00 0 0 $50.00 $ 55.00 $ 57.00 Oo o 0 0 Warnerwoods Company uses a periodic inventory system. It entered into the following purchases and sales transactions for March Units Sold at Retail Date Activities Mar. 1 Beginning inventory Mar. 5 Purchase Mar. 9 Sales Mar. 18 Purchase Mar. 25 Purchase Mar. 29 Sales Totals Units Acquired at Cost 155 units @ $45 per unit 455 units @ $50 per unit 230 units @ $55 per unit 310 units @ $57 per unit 475 units @ $80 per unit 1,150 units 270 units@ $90 per unit 745 units For specific identification, the March 9 sale consisted of 50 units from beginning inventory and 425 units from the March 5 purchase, the March 29 sale consisted of 95 units from the March 18 purchase and 175 units from the March 25 purchase
Stuck on this part, not sure where im going wrong. please help
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access with AI-Powered Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started