The following information applies to the questions displayed below] Warnerwoods

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. 100 units $50.00 per unit 400 units $55.00 per unit Mar. 1 Beginning Inventory Mar. 5 Purchase Mar. 9 Sales Mar. 18 Purchase Mar. 25 Purchase Mar. 29 Sales 420 units $85.00 per unit 120 units @ $60.00 per unt 200 units$62.00 per unit 160 units $9500 per unit Totals 820 units 580 units value: 11.11 points 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 Cost of Goods Available for Sale # of units Beginning inventory Purchases March 5 March 18 March 25 Total

Explanation / Answer

#of units cost per unit cost of goods available for sale Beginning inventory 100 $50 5,000 Purchases: March 5 400 $55 22,000 March 18 120 $60 7,200 March 25 200 $62 12,400 Total 820 46,600

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