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Marlow Company uses a perpetual inventory system. It entered into the following calendar-year 2009 purchases and sales transactions.
Date
Activities
Units Acquired at Cost
Units Sold at Retail
Jan. 1
Beginning inventory
770 units
@ $50/unit
Feb. 10
Purchase
420 units
@ $41/unit
Mar. 13
260 units
@ $25/unit
Mar. 15
Sales
@ $75/unit
Aug. 21
180 units
@ $49/unit
Sept. 5
585 units
@ $42/unit
Sept. 10
650 units
Totals
2,215 units
1,420 units
Requirement:
Compute cost of goods available for sale and the number of units available for sale.
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