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4 10 11 6 13 QUESTION 7 Widuri Enterprise doing business selling mobile phones in Bandar Baru Uda. Sale and purchase transactions for the month
4 10 11 6 13 QUESTION 7 Widuri Enterprise doing business selling mobile phones in Bandar Baru Uda. Sale and purchase transactions for the month of April 2021 is as follows: Date Explanation Unit Cost per unit RM April Beginning balance 12 550 Purchase 580 7 Sale 670 Purchase 560 19 Sale 8 670 26 Sale 2 670 All transactions are in cash and Widuri Enterprise using perpetual inventory system. Required: I. Prepare journal entries related to the sale of inventory on 19 April 2021 with inventory valuation methods First In First Out (FIFO). ii. Determine the value of ending inventory at the 30 April 2021 if periodic system using First In First Out (FIFO) method. ii. iii.Based on the information (ii) determine the gross profit for the month of April 2021
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