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Part 2 of 4

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Required information

[The following information applies to the questions displayed below.]

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

for March.

Date

March 1

March 5

March 9

March 18

March 25

March 29

Activities

Beginning inventory

Purchase

Sales

Purchase

Purchase

Sales

Totals

Ending inventory

2. Compute the number of units in ending inventory.

Units Acquired at Cost

170 units @ $60 per unit

470 units @ $65 per unit

450 units

260 units @ $70 per unit

340 units @ $72 per unit

1,240 units

Units Sold at Retail

For specific identification, units sold include 90 units from beginning inventory, 400 units from the March 5 purchase, 110

units from the March 18 purchase, and 190 units from the March 25 purchase.

490 units @ $95 per unit

300 units @ $105 per unit

790 units