Warnerwoods Company uses a periodic inventory system. It entered into the following purchases and sales transactions...

Question

Question

business accounting

Add a comment Improve this question Transcribed image text

Answer 1

Answer #1

c) Average Cost method

Cost of goods available for sale : 145*80+445*85+210*90+290*92 = 95005

Total units : 1090 units

Average cost : 95005/1090 = 87.16

Cost of goods sold : 715*87.16 = 62319.79

Ending inventory : 375*87.16 = 32685.21

d) Specific identification

Cost of Googs sold : 90*80+375*85+85*90+165*92 = 61905

Ending inventroy = 55*80+70*85+125*90+125*92 = 33100

Add a comment

Answer 2

Similar Homework Help Questions

2. Compute the number of units in ending inventory. 4. Compute gross profit earned by the...

2. Compute the number of units in ending inventory. 4. Compute gross profit earned by the company for each of the four costing methods. (Round your average cost per unit to 2 decimal places.) FIFO LIFO Weighted Average Specific Identification Sales Less: Cost of Goods Sold Gross Profit I need help with part 2 and 4. Explain how it is solved. [The following information applies to the questions displayed below. Warnerwoods Company uses a periodic inventory system. It entered into...
The Warnerwoods Company uses a perpetual inventory system. It entered into the following purchases and sales...

The Warnerwoods Company uses a perpetual inventory system. It entered into the following purchases and sales transactions for March 2019. For specific identification: The March 9 sale consisted of 80 units from beginning inventory and 340 units from the March 5 purchase; The March 29 sale consisted of 40 units from the March 18 purchase and 120 units from the March 25 purchase. Date Activities Units Acquired at Cost Units Sold at Retail Beginning inventory Purchase..... 100 units a $50.00...
The Warnerwoods Company uses a perpetual inventory system. It entered into the following purchases and sales...

The Warnerwoods Company uses a perpetual inventory system. It entered into the following purchases and sales transactions for March 2019. For specific identification: • The March 9 sale consisted of 80 units from beginning inventory and 340 units from the March 5 purchase; • The March 29 sale consisted of 40 units from the March 18 purchase and 120 units from the March 25 purchase. Date Activities Units Acquired at Cost Units Sold at Retail Mar.1 100 units @ $50.00...

Warnerwoods Company uses a periodic inventory system. It entered into the following purchases and sales transactions...

Warnerwoods Company uses a periodic inventory system. It entered into the following purchases and sales transactions for March Date Units Sold at Retail Units Acquired at Cost 135 units @ $70 per unit 435 units @ $75 per unit 455 units @ $105 per unit 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...
Warnerwoods Company uses a perpetual inventory system. It entered into the following purchases and sales transactions...

Warnerwoods Company uses a perpetual inventory system. It entered into the following purchases and sales transactions for March. Date Activities Units Acquired at Cost Units Sold at Retail Mar. 1 Beginning inventory 230 units @ $53.60 per unit Mar. 5 Purchase 290 units @ $58.60 per unit Mar. 9 Sales 390 units @ $88.60 per unit Mar. 18 Purchase 150 units @ $63.60 per unit Mar. 25 Purchase 280 units @ $65.60 per unit Mar. 29 Sales 260 units @...
Warnerwoods Company uses a perpetual inventory system. It entered into the following purchases and sales transactions...

Warnerwoods Company uses a perpetual inventory system. It entered into the following purchases and sales transactions for March. Date Activities Units Acquired at Cost Units Sold at Retail Mar. 1 Beginning inventory 250 units @ $54.00 per unit Mar. 5 Purchase 300 units @ $59.00 per unit Mar. 9 Sales 410 units @ $89.00 per unit Mar. 18 Purchase 160 units @ $64.00 per unit Mar. 25 Purchase 300 units @ $66.00 per unit Mar. 29 Sales 280 units @...

Warnerwoods Company uses a perpetual inventory system. It entered into the following purchases and sales transactions...

Warnerwoods Company uses a perpetual inventory system. It entered into the following purchases and sales transactions for March. Date Activities Units Acquired at Cost Units Sold at Retail Mar. 1 Beginning inventory 200 units @ $53.00 per unit Mar. 5 Purchase 275 units @ $58.00 per unit Mar. 9 Sales 360 units @ $88.00 per unit Mar. 18 Purchase 135 units @ $63.00 per unit Mar. 25 Purchase 250 units @ $65.00 per unit Mar. 29 Sales 230 units @...
Warnerwoods Company uses a perpetual inventory system. It entered into the following purchases and sales transactions...

Warnerwoods Company uses a perpetual inventory system. It entered into the following purchases and sales transactions for March. Date Activities Units Acquired at Cost Units sold at Retail Mar. 1 Beginning inventory 240 units @ $53.80 per unit Mar. 5 Purchase 295 units @ $58.89 per unit Mar 9 Sales 400 units @ $88.80 per unit Mar. 18 Purchase 155 units @ $63.80 per unit Mar. 25 Purchase 290 units@ $65.80 per unit Mar. 29 Sales 278 units @ $98.80...
Warnerwoods Company uses a perpetual inventory system. It entered into the following purchases and sales transactions...

Warnerwoods Company uses a perpetual inventory system. It entered into the following purchases and sales transactions for March. Date Activities Units Acquired at Cost Units Sold at Retail Mar. 1 Beginning inventory 220 units @ $53.40 per unit Mar. 5 Purchase 285 units @ $58.40 per unit Mar. 9 Sales 380 units @ $88.40 per unit Mar. 18 Purchase 145 units @ $63.40 per unit Mar. 25 Purchase 270 units @ $65.40 per unit Mar. 29 Sales 250 units @...

Warnerwoods Company uses a perpetual inventory system. It entered into the following purchases and sales transactions...

Warnerwoods Company uses a perpetual inventory system. It entered into the following purchases and sales transactions for March. Date Activities Units Acquired at Cost Units Sold at Retail Mar. 1 Beginning inventory 220 units @ $53.40 per unit Mar. 5 Purchase 285 units @ $58.40 per unit Mar. 9 Sales 380 units @ $88.40 per unit Mar. 18 Purchase 145 units @ $63.40 per unit Mar. 25 Purchase 270 units @ $65.40 per unit Mar. 29 Sales 250 units @...

Warnerwoods Company uses a periodic inventory system. It entered into the following purchases and sales transactions...

Homework Answers

Add Answer to:
Warnerwoods Company uses a periodic inventory system. It entered into the following purchases and sales transactions...

Post as a guest

Earn Coins

2. Compute the number of units in ending inventory. 4. Compute gross profit earned by the...

The Warnerwoods Company uses a perpetual inventory system. It entered into the following purchases and sales...

The Warnerwoods Company uses a perpetual inventory system. It entered into the following purchases and sales...

Warnerwoods Company uses a periodic inventory system. It entered into the following purchases and sales transactions...

Warnerwoods Company uses a perpetual inventory system. It entered into the following purchases and sales transactions...

Warnerwoods Company uses a perpetual inventory system. It entered into the following purchases and sales transactions...

Warnerwoods Company uses a perpetual inventory system. It entered into the following purchases and sales transactions...

Warnerwoods Company uses a perpetual inventory system. It entered into the following purchases and sales transactions...

Warnerwoods Company uses a perpetual inventory system. It entered into the following purchases and sales transactions...

Warnerwoods Company uses a perpetual inventory system. It entered into the following purchases and sales transactions...

Warnerwoods Company uses a periodic inventory system. It entered into the following purchases and sales transactions...

Homework Answers

Add Answer to: Warnerwoods Company uses a periodic inventory system. It entered into the following purchases and sales transactions...

Post as a guest

Earn Coins

Add Answer to:
Warnerwoods Company uses a periodic inventory system. It entered into the following purchases and sales transactions...