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3. Didi Company sells many products. Sol is one of its popular items. Below is an analysis of the inventory purchases and sales of Didi
3. Didi Company sells many products. Sol is one of its popular items. Below is an analysis of the inventory purchases and sales of Didi for the month of September. a) Using the FIFO assumption, calculate the amount charged to cost of goods soid for September. (Show all your calculations) b) Using the LIFO assumption, calculate the amount assigned to the inventory on hand on September 31 . (Show all your calculations) c) Calculate gross profit for September 31 using Average Cost method. (Show al your calculations) Note: LIFO inventory is disallowed in Malaysia. Only FIFO and average inventory is allowed
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