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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

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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 Activities Units Acquired at Cost Units Sold at Retail Mar. 1 Beginning inventory Mar 5 Purchase Mar. 9 Sales Mar 18 Purchase Mar. 25 Purchase Mar. 29 Sales 25 units $60.00 per unit 425 units$65.00 per unit 445 units$95.00 per unit 170 units $70.00 per unit 250 units$72.00 per unit 210 units 655 units $105.00 per unit Totals 970 units For specific identification, the March 9 sale consisted of 80 units from beginning inventory and 365 units from the March 5 purchase; the March 29 sale consisted of 65 units from the March 18 purchase and 145 units from the March 25 purchase

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