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Warnerwoods Company uses a periodic Inventory system. It entered into the following purchases and sales transactions for March. Date March 1 March 5 March
Warnerwoods Company uses a periodic Inventory system. It entered into the following purchases and sales transactions for March. Date March 1 March 5 March 9 Activities Beginning inventory Units Acquired at Cost 170 units @$60 per unit Units Sold at Retail Purchase Sales March 18 March 25 Purchase Purchase March 29 Sales Totals 470 units 260 units 340 units 1,240 units @$65 per unit @$70 per unit @$72 per unit 490 units @ $95 per unit 300 units $105 per unit 790 units For specific identification, units sold include 90 units from beginning inventory, 400 units from the March 5 purchase, 110 units from the March 18 purchase, and 190 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 Beginning inventory Purchases March 5 March 18 March 25 Total Cost per Unit Cost of Goods Available for Sale
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