Warnerwoods Company uses a periodic inventory system. It entered into the following purchases and sales transactions for March. Date March 1 March 5 Activities Beginning inventory Purchase Units Acquired at Cost 160 units @ $50 per unit 460 units e $55 per unit Units Sold at Retail March 9 Sales 480 units @ $85 per unit March 18 Purchase March 25 Purchase 240 units @ $60 per unit 320 units @$62 per unit March 29 Sales Totals 1,180 units 280 units @ $95 per unit 760 units For specific identification, units sold include 60 units from beginning inventory, 420 units from the March 5 purchase, 100 units from the March 18 purchase, and 180 units from the March 25 purchase. 2. Compute the number of units in ending inventory. Ending inventory units
Warnerwoods Company uses a periodic inventory system. It entered into the following purchases and sales transactions for March. Date March 1 March 5 Activities Beginning inventory Purchase Units Acquired at Cost 160 units @ $50 per unit 460 units e $55 per unit Units Sold at Retail March 9 Sales 480 units @ $85 per unit March 18 Purchase March 25 Purchase 240 units @ $60 per unit 320 units @$62 per unit March 29 Sales Totals 1,180 units 280 units @ $95 per unit 760 units For specific identification, units sold include 60 units from beginning inventory, 420 units from the March 5 purchase, 100 units from the March 18 purchase, and 180 units from the March 25 purchase. 2. Compute the number of units in ending inventory. Ending inventory units
Financial And Managerial Accounting
15th Edition
ISBN:9781337902663
Author:WARREN, Carl S.
Publisher:WARREN, Carl S.
Chapter6: Inventories
Section: Chapter Questions
Problem 5PB: Pappas Appliances uses the periodic inventory system. Details regarding the inventory of appliances...
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