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 March 9 Sales March 18 March 25 Purchase Purchase Units Acquired at Cost 125 units @ $60 per unit 425 units @ $65 per unit 170 units @ $70 per unit 250 units @$72 per unit Units Sold at Retail 445 units @ $95 per unit March 29 Sales Totals 970 units 210 units @ $105 per unit 655 units For specific identification, units sold include 80 units from beginning inventory, 365 units from the March 5 purchase, 65 units from the March 18 purchase, and 145 units from the March 25 purchase. Problem 6-2AA (Algo) Part 2 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 March 9 Sales March 18 March 25 Purchase Purchase Units Acquired at Cost 125 units @ $60 per unit 425 units @ $65 per unit 170 units @ $70 per unit 250 units @$72 per unit Units Sold at Retail 445 units @ $95 per unit March 29 Sales Totals 970 units 210 units @ $105 per unit 655 units For specific identification, units sold include 80 units from beginning inventory, 365 units from the March 5 purchase, 65 units from the March 18 purchase, and 145 units from the March 25 purchase. Problem 6-2AA (Algo) Part 2 2. Compute the number of units in ending inventory. Ending inventory 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 32CE: ( Appendix 6B) Inventory Costing Methods: Periodic Average Cost Refer to the information for...
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