Question
A company follows the periodic inventory system for the inventory of goods, and you have the following data: First: Movement of imports from category (A)
A company follows the periodic inventory system for the inventory of goods, and you have the following data:
First: Movement of imports from category (A) during the year: 1-1 the balance of the stock at the beginning of the period 2000 units at a price of $ 80 - 8/2 The company bought a commodity of 2,400 units at a price of $ 160 - 23/8 The company bought a commodity of 3200 units at a price of $ 200 - 11/12 the facility purchased 2800 units at a price of $ 280 9/12 The facility bought 1,200 units at a price of $ 360
Second: The movement of outgoing (sales) during the year amounted to 5,600 units at a price of 400 per unit.
Required: 1- Specify the method of evaluating the end-period stock (the average method, or the first-in-first-out method, or the last-in-first-out method) if the end-period stock value reached an amount of 864,000 2- Determine the method of evaluating the last used period inventory if the cost of goods sold reached 1,158,600
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