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

170

units

@ $60 per unit

Mar.

5

Purchase

470

units

@ $65 per unit

Mar.

9

Sales

490

units

@ $95 per unit

Mar.

18

Purchase

260

units

@ $70 per unit

Mar.

25

Purchase

340

units

@ $72 per unit

Mar.

29

Sales

300

units

@ $105 per unit

Totals

1,240

units

790

units

For specific identification, the March 9 sale consisted of 90 units from beginning inventory and 400 units from the March 5 purchase; the March 29 sale consisted of 110 units from the March 18 purchase and 190 units from the March 25 purchase.

Problem 5-1AA Part 1

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
Purchases:
March 5
March 18
March 25
Total