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

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

Compute cost of goods available for sale and the number of units available for sale. Fill in the blanks in the table below. D

business accounting

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Answer 1

Answer #1

Cost of goods available for sale = No of units * price per unit

Only purchase transaction is taken to calculate Cost of goods available for sale

Date / activity	Units available for sale	Cost of goods available for sale [units*price per unit ]

Beginning inventory	100 units @ $50	$5000
March 5	400 units @ $55	$22000
March 18	120 units @ $60	$7200
March 25	200 units @ $62	$12400
Units available	820 units
Cost of goods available for sale		$46600

Working note:

Units available = Total units purchased = 100 + 400 + 120 + 200 = 820

Cost of goods available for sale = 5000 + 22000 + 7200 + 12400 = 46600

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Answer 2

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