Warnerwoods Company uses a periodic inventory system. It entered into the follow

Question

Warnerwoods Company uses a periodic inventory system. It entered into the following purchases and sales transactions for March Mar 1 Mar 5 Purchase Mar 9 Sales Mar 18 Purchase Mar 25 Purchase Mar. 29 Sales 40 unts $7500 per unit 440 units $8000 per un 460 units o $10.00 per unin 200 units $8500 per unit 280 units $8700 per unn 240 units 700 unts $12000 per unit Totals 1,060 unit For specific identfication, the March 9 sale consisted of 90 units from beginning inventory and 370 units from the March 5 purchase, the March 29 sale consisted of Bo unts thom the March la purcha and 160 units from the March 25 purchase

Explanation / Answer

2

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# of units Cost Per Unit Cost of Goods Available for Sales Beginning Inventory 140 75 10500 Purchase Mar 05 440 80 35200 Mar 18 200 85 17000 Mar 25 280 87 24360 Total 1060 87060

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