Warnerwoods Company uses a perpetual inventory system. It entered into the following purchases and sales transactions for March. Date Activities Units Acquired at Cost Units Sold at Retail March 1 Beginning inventory 150 units @ $52.00 per unit March 5 Purchase 250 units @ $57.00 per unit March 9 Sales 310 units @ $87.00 per unit March 18 Purchase 110 units @ $62.00 per unit March 25 Purchase 200 units @ $64.00 per unit March 29 Sales 180 units @ $97.00 per unit Totals 710 units 490 units 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 Cost of Goods Available Unit for Sale Beginning inventory Purchases: March 5 March 18 March 25 Total\fWarnerwoods Company uses a perpetual inventory' system. It entered into the following purchases and sales transactions for March. Activities Units Acquired at Cost Units Sold at Retail Beginning inventory 159 units El $52.69 per unit Purchase 259 units @ $5189 per unit Sales 319 units @ $3199 per unit Purchase 119 units 5' $62.69 per unit Purchase 299 units @ $64.39 per unit Sales 189 units @1 $9199 per unit Tgtals ?19 units 499 units 4. Compute gross prot earned by the company' for each of the four costing methods. For specic identication, units sold include 90 units from beginning inventory. 220 units from the March 5 purchase, 70 units from the March 18 purchase, and 110 units from the March 25 purchase. {Round weighted average cost per unit to two decimals and final answers to nearest whole dollar.) Less: Cost of goods sold Gross prot Montoure Company uses a perpetual inventory system. It entered into the following calendaryear purchases and sales transactions. Date Activities Units acquired at Cost Units Sold at Retail January 1 Beginning inventory 568 units [3 $55 per unit Februaryr 16 Purchase 4413 units E $52 per unit March 13 Purchase 148 units [3 $443 per unit March 15 Sales HIE units El $85 per unit august 21 Purchase 138 units [3 $69 per unit September 5 Purchase 54%! units E $5? per unit September 18 Sales 3'28 units @ $85 per unit Totals 1,363 units 1,436 units Required: 1. Compute cost of goods available for sale and the number of units available for sale. lCost of goods available for sale Number of units available for sale 2. Compute the number of units in ending inventory. \f\f\f\f\f\f\fl-'The toiiowr'ng information applies to the questions displayed below] Warnerwoods Company uses a perpetual inventory system. It entered into the following purchases and sales transactions for March. Date Activities Units Acquired at Cost Units Sold at Retail March Beginning inventory 156 units @ $52.83 per unit March Purchase 258 units @ $5189 per unit March Sales 3-19 units @ SST-\".88 per unit March Purchase 110 units @ $6230 per unit March Purchase EBB units @ $64.89 per unit March Sales 189 units @ SPY-\"8 per unit Totals T19 units 499 units 2. Compute the number of units in ending inventory. Compute the lower of coat or market for the iI'WEI'ItCIW applied separately to each item. carauuroequrpmenr ___ assess as r m s m____ Stereos 253 124 114 _ summers 20? as 55 ___ Secun'w equipment ___ Alarms 483 153 153 _ was 294 us as _ Cameras 215 325 335 _ Binocular equipment ___ ms 188 av 97 ___ Stabilizers 113 103 118 _ Total _ Required 2 > \fNavajo Company's yearend financial statements show the following. The company recentlyr discovered that in making physical counts of inventory. it had made the following errors: Year 1 ending inventory is understated by $65,000 and Year 2 ending inventory is overstated by $35,000. For Year Ended December 31 Year 1 Year 2 Year 3 (a) Cost o-F goods sold 5 Fit-0,080 $ 9?8,008 5 805,880 (a) Net income 283,080 290,008 255,800 (c) Total current assets 1,262,080 1,376,008 1,245,080 (cl) Total equity 1,402,080 1,595,008 1,260,080 Required: 1. For each key financial statement figurela]. {o}, icj. and [oi aboveprepare a table to ShO'iN the adjustments necessary to correct the reported amounts. 2. What is the total error in combined net income for the threeyear period resulting from the inventory errors? Complete tis question by entering your answers in the tabs below. Required 1 Required 2 For each key nancial statement gure{a}, {b}, (c), and {of} aboveprepare a table to Show the adjustments necessary to correct the reported amounts. {Amounts to be deducted must be entered with a minus sign.) Reported amount Adjustment for 12.:'31Near 1 error Adjustment for 12.:'31H'ear 2 error Corrected amount Reported amount Adjustment for 12.:'31Near 1 error Adjustment for 12.:'31Near 2 error Corrected amount Reported amount Adjustment for 12.:'31H'ear 1 error Adjustment for 12r'31r'Year 2 error Corrected amount Nayajo Company's year-end financial statements show the following. The company recently discovered that in making physical counts of inventory, it had made the following errors: Yeari ending inventory is understated by 9965.000 and Year 2 ending inventory is overstated by $35,000. For Year Ended December 31 Year 1 Year 2 Year 3 (a) Cost o-F goods sold 5 Tel-0,000 $ 9?0,000 5 005,000 (b) Net income 283,000 290,000 265,000 (c) Total current assets 1,262,000 1,3?5,000 1,245,000 (:1) Total equity 1,402,000 1,595,000 1,260,000 Required: 1. For each key financial statement figureta], [0}, icj. and [air aboveprepare a table to show the adjustments necessary to correct the reported amounts. 2. What is the total error in combined net income for the threeyear period resulting from the inventory errors? Complete this question by entering your answers in the tabs below. Required 1 Required 2 what is the total error in combined net income for the three-year period resulting from the iniurentorg.r errors?