Required information[The following information applies to the questions displayed below.]TotalDateMarch 1March 5March 9March 18March 25March 29Warnerwoods Company uses a perpetual inventory system. It entered into the following purchases and sales transactionsfor March.Beginning inventoryPurchases:March 5March 18March 25ActivitiesBeginning inventoryPurchaseSalesPurchasePurchaseSalesTotalsSavedRequired:1. Compute cost of goods available for sale and the number of units available for sale.# of unitsCost perUnitUnits Acquired at Cost100 units @ $51.00 per unit225 units @ $56.00 per unit< Prev‒‒‒‒‒‒‒‒‒‒85 units @ $61.00 per unit150 units @ $63.00 per unitCost of Goods Available for Sale560 unitsCost of Goods Availablefor Sale3 4 5 6of 7Help Save & ExitUnits Sold at Retail260 units @ $86.00 per unitNext >130 units @ $96.00 per unit390 unitsSubn

Inventory valuation is based on the method of flow used by the organization. It can be the first in…

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. Total Date March 1 March 5 March 9 March 18 March 25 March 29 Beginning inventory Purchases: March 5 March 18 March 25 Activities Beginning inventory Purchase Sales Purchase Purchase Sales Totals Units Acquired at Cost 100 units @ $51.00 per unit 225 units @ $56.00 per unit Required: 1. Compute cost of goods available for sale and the number of units available for sale. 85 units @ $61.00 per unit 150 units @ $63.00 per unit # of units 560 units Cost of Goods Available for Sale Cost per Cost of Goods Available Unit for Sale Units Sold at Retail 260 units @ $86.00 per unit 130 units @ $96.00 per unit 390 units

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. Total Date March 1 March 5 March 9 March 18 March 25 March 29 Beginning inventory Purchases: March 5 March 18 March 25 Activities Beginning inventory Purchase Sales Purchase Purchase Sales Totals Units Acquired at Cost 100 units @ $51.00 per unit 225 units @ $56.00 per unit Required: 1. Compute cost of goods available for sale and the number of units available for sale. 85 units @ $61.00 per unit 150 units @ $63.00 per unit # of units 560 units Cost of Goods Available for Sale Cost per Cost of Goods Available Unit for Sale Units Sold at Retail 260 units @ $86.00 per unit 130 units @ $96.00 per unit 390 units

Cornerstones of Financial Accounting

4th Edition

ISBN:9781337690881

Author:Jay Rich, Jeff Jones

Publisher:Jay Rich, Jeff Jones

Chapter6: Cost Of Goods Sold And Inventory

Section: Chapter Questions

Problem 44E: Perpetual and Periodic Inventory Systems Below is a list of inventory systems options. a. Perpetual...

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