Chapter Review 5-66 Help 6 Required information Problem 6-1A Perpetual: Alternat

Question

Chapter Review 5-66 Help 6 Required information Problem 6-1A Perpetual: Alternative cost flows LO P1 [The following information applies to the questions displayed below Warnerwoods Company uses a perpetual inventory system. It entered into the following purchases and sales Part 2 of 4 2. points transactions for March. Activiti 128 units $51.40 per unit 235 unitse s56.40 per unit Mar. 1 Beginning inventory Mar. 5 Purchase Mar. 9 Sales Mar. 18 Purchase Mar. 25 Purchase Mar. 29 Sales 280 units@ $86.48 per unit Book 95 units $61.48 per unit 170 units $63.40 per unit 150 unitse $96.4e per unit 430 units Print Totals 620 units References Problem 6-1A Part 2 2. Compute the number of units in ending inventory

Explanation / Answer

Solution 2:

Nos of units in ending inventory = Unit avaialble - unit sold = 620 - 430 = 190 units

Solution 3:

Solution 4:

Computation of ending inventory COGS under FIFO Date Beginning Inventory Purchase Cost of Goods Sold Ending Inventory Qty Rate Amount Qty Rate Amount Qty Rate Amount Qty Rate Amount 1-Mar 120 $51.40 $6,168.00 0 $0.00 $0.00 0 $0.00 $0.00 120 $51.40 $6,168.00 5-Mar 120 $51.40 $6,168.00 235 $56.40 $13,254.00 0 $0.00 $0.00 120 $51.40 $6,168.00 235 $56.40 $13,254.00 9-Mar 120 $51.40 $6,168.00 0 $0.00 $0.00 120 $51.40 $6,168.00 75 $56.40 $4,230.00 235 $56.40 $13,254.00 160 $56.40 $9,024.00 18-Mar 75 $56.40 $95.00 95 $61.40 $5,833.00 0 $0.00 $0.00 75 $56.40 $4,230.00 95 $61.40 $5,833.00 25-Mar 75 $56.40 $4,230.00 170 $63.40 $10,778.00 0 $0.00 $0.00 75 $56.40 $4,230.00 95 $61.40 $5,833.00 95 $61.40 $5,833.00 170 $63.40 $10,778.00 29-Mar 75 $56.40 $4,230.00 0 $0.00 $0.00 75 $56.40 $4,230.00 20 $61.40 $1,228.00 95 $61.40 $5,833.00 75 $61.40 $4,605.00 170 $63.40 $10,778.00 170 $63.40 $10,778.00 Total 430 $24,027.00 190 $12,006.00

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