Check Warnerwoods Company uses a periodic inventory system. It entered into the following purchases and...
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Check Warnerwoods Company uses a periodic inventory system. It entered into the following purchases and sales transactions for March. Units Sold at Retail Units Acquired at Cost 135 units @ $70 per unit 435 units @ $75 per unit 455 units @ $105 per unit Date Activities Mar. 1 Beginning inventory Mar. 5 Purchase Mar. 9 Sales Mar. 18 Purchase Mar. 25 Purchase Mar. 29 Sales Totals 190 units @ $80 per unit 270 units @ $82 per unit 230 units & $115 per unit 685 units 1,030 units For specific identification, the March 9 sale consisted of 80 units from beginning inventory and 375 units from the March 5 purchase; the March 29 sale consisted of 75 units from the March 18 purchase and 155 units from the March 25 purchase. Required: 1. Compute cost of goods available for sale and the number of units available for sale. Cost of Goods Available for Sale # of Units Cost per Cost of Goods Available Unit for Sale Beginning inventory Purchases: March 5 March 18 March 25 Total
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