20:04 SDY English Questions.pdf 834 8 1- According to the FIFO cost method, the purchase dates, quantities and purchase prices of the firm are as follows. 01 January 2022 10 goods and 500 TL each 11 January 2022 15 goods and 600 TL each 17 January 2022 30 goods and 700 TL each If the firm sells 40 goods for 750 TL each by cash a) What will be the cost of goods sold and profit/loss? b) Make the journal entry of the transaction 2- The company, which determines its cost according to the LIFO method, made the following transactions in January. 11/01/2022 goods 300 kg at the begining of the period and unit price 20 TL 14/01/2022 purchase of goods 300 kg and unit price 25 TL 16/01/2022 purchase of goods 300 kg and unit price 30 TL 21/01/2022 sale of goods 700 kg. If the firm sells 700 kg of goods for 40 TL per kilogram by cash a) What will be the cost of goods sold and profit/loss? b) Make the journal entry of the transaction 3- The information of the firm using the average cost method is as follows; Quantity Unit Price 200 10 300 15 250 20 300 25 Since the firm sold 750 units of 25 Turkish Liras during the period by cash, a) What will be the cost of goods sold and profit/loss? b) Make the journal entry of the transaction