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

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Accounting

Warnerwoods Company uses a periodic inventory system. It enteredinto the following purchases and sales transactions for March. DateActivities Units Acquired at Cost Units Sold at Retail Mar. 1Beginning inventory 145 units @ $80 per unit Mar. 5 Purchase 445units @ $85 per unit Mar. 9 Sales 465 units @ $115 per unit Mar. 18Purchase 210 units @ $90 per unit Mar. 25 Purchase 290 units @ $92per unit Mar. 29 Sales 250 units @ $125 per unit Totals 1,090 units715 units For specific identification, the March 9 sale consistedof 90 units from beginning inventory and 375 units from the March 5purchase; the March 29 sale consisted of 85 units from the March 18purchase and 165 units from the March 25 purchase.

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Date Sales revenue Unit Unit Selling price Sales Revenue Mar 9 465 115 53475 Mar 29 250 125 31250 Total 715 84725 Method Specific Identification Periodic Inventory System Date Goods Available for sale Cost of goods sold Ending inventory Unit unit cost value Unit unit cost value Unit unit cost value Beginning Mar 1 145 80 11600 90 80 7200 55 80 4400 Purchase Mar 5 445 85 37825 375 85 31875 70 85 5950 Purchase Mar 18 210 90 18900 85 90 See Answer

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