Required information Problem 6-1A Perpetual: Alternative cost flows LO P1 The fo

Question

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 transactions for March. Activities Units Sold at Retail Units Acquired at Cost 90 units $50.80 per unit 220 units $55.80 per unit Date Mar. Mar. 5 Purchase Mar. 9 Sales Mar. 18 Purchase Mar. 25 Purchase Mar. 29 Sales 1 Beginning inventory 250 units $85.80 per unit 80 units $60.80 per unit 140 units $62.80 per unit 120 units $95.80 per unit 370 units Totals 530 units

Explanation / Answer

Cost of Goods Available for Sale # of units Cost per Unit Cost of Goods Available for Sale Beginning inventory 90 50.8 4572 Purchases: Mar-05 220 55.8 12276 March 18 80 60.8 4864 March 25 140 62.8 8792 Total 530 30504

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