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Warnerwoods Company uses a periodic inventory system. It entered into the following purchases and sales transactions for March. Date March 17 March 5 March
Warnerwoods Company uses a periodic inventory system. It entered into the following purchases and sales transactions for March. Date March 17 March 5 March 9 March 18 March: 25 Activities Beginning inventory Purchase Units Acquired at Cost Units Sold at Retail 100 units 400 units Sales Purchase 120 units Purchase 200 units $50 per unit $55 per unit $60 per unit $62 per unit 420 units $85 per unit March 29 Sales Totals 820 units 160 units @$95 per unit 580 units For specific identification, units sold include 80 units from beginning inventory, 340 units from the March 5 purchase, 40 units from the March 18 purchase, and 120 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 Unit Cost of Goods Available for Sale Beginning inventory S 0 Purchases March 5 March 18 March 25 0 0 0 Total
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