1. What are the advantages of computerized accounting? 2. What are the advantages of using computerized inventory system? 3. What are the three goals of inventory management? List four types of inventory management and explain each. 4. Calculate the Ending inventory from the following information using LIFO, SIMPLE AVERAGE methods of Material issues: The details relating to the purchase and sales of Material X is given below. Calculate the Ending inventory and Cost of goods sold for the Material X: Date PARTICULARS OMR 1.1.2014 Opening stock of Material X 250 units at 1.200 5.1.2014 Purchased 350 units of Material X at 1.275 7.12014 Purchased 425 units of Material X at 1.3401 10.1.2014 Sold 800 units 12.1.2014 Purchased 550 units of Material X at 1.425 15.1.2014 Sold 620 units 1.500 20.1.2014 Sold 120 units