[The following information applies to the questions displayed below.] Warnerwood

Question

[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.

2. Compute the number of units in ending inventory.

Ending inventory______units

Date Activities Units Acquired at Cost Units Sold at Retail Mar. 1 Beginning inventory 180 units @ $52.60 per unit Mar. 5 Purchase 265 units @ $57.60 per unit Mar. 9 Sales 340 units @ $87.60 per unit Mar. 18 Purchase 125 units @ $62.60 per unit Mar. 25 Purchase 230 units @ $64.60 per unit Mar. 29 Sales 210 units @ $97.60 per unit Totals 800 units 550 units

Explanation / Answer

2 Ending inventory = Total units-Units sold = 800-550 = 250 units

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