Required information [The following information applies to the questions display

Question

Required information [The following 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. Activities Units Sold at Retail Units Acquired at Cost 250 units@ $54.ee per unit 300 units $59.00 per unit Date Mar. Beginning inventory Mar 5 Purchase Mar. 9 Sales Mar. 18 Purchase Mar. 25 Purchase Mar. 29 Sales 410 units@ $89.00 per unit 160 units@ $64.ee per unit 300 units $66.00 per unit 280 units $99.e0 per unit 690 units Totals 1,910 units Required: 1. Compute cost of goods available for sale and the number of units available for sale Cost of Goods Available for Sale Cost per Unit Cost of Goods Available for Sale # of units Beginning inventory Purchases March 5 March 18 March 25 Total

Explanation / Answer

B()Unit sold :690

Ending inventory =cost of goods available for sale - unit sold

        = 1010 -690

           = 320 units

cost of goods available for sale Units cost per unit cost of goods available for sale Beginning 250 54 13500    [250*54] purchase March 5 300 59 17700    [300*59] March 18 160 64 10240     [160*64] March 25 300 66 19800      [300*66] Total 1010 61240

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