Warnerwoods Company uses a perpetual inventory system. It entered into the follo

Question

Warnerwoods Company uses a perpetual inventory system. It entered into the following purchases and sales transactions for March.

2. Compute the number of units in ending inventory.

Date Activities Units Acquired at Cost Units Sold at Retail Mar. 1 Beginning inventory 240 units @ $53.80 per unit Mar. 5 Purchase 295 units @ $58.80 per unit Mar. 9 Sales 400 units @ $88.80 per unit Mar. 18 Purchase 155 units @ $63.80 per unit Mar. 25 Purchase 290 units @ $65.80 per unit Mar. 29 Sales 270 units @ $98.80 per unit Totals 980 units 670 units

Explanation / Answer

Number of units in ending inventory = Total units available for sale-sale unit

                                                   = 980-670

Number of units in ending inventory = 310 units

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