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(a) Complete the stock card below, using the FIFO method of inventory valuation, and calculate the value of inventory at 5 September 2012, before the

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(a) Complete the stock card below, using the FIFO method of inventory valuation, and calculate the value of inventory at 5 September 2012, before the physical stock STOCK CARD APPLE COMPUTERS (c) Complete and balance the Inventory Control account and the Cost of Goods Sold account for iComputers as at 6 September 2012, using the PERPETUAL (or continuous) method of recording inventory and including any adjustment for stock discrepancy. Inventory Control A/c Cost of Goods Sold A/c (4 marks)QUESTION The following transactions relate to iComputers which commenced business on 1 September 2012. September 1 Bought ten Apple computers on credit from Staysane for $400 each. 3 Bought five Apple computers from Office Supplies for $450 each. 4 Sold two Apple computers to Space Age for $750 each. 5 Space Age returned one of the Apple computers. Sold one Apple computer to Dinkum Office Works for $800. A physical stock-take at 6 September 2012 revealed twelve computers on hand.(d) Record the transactions for the week in the ledger accounts below,usiug the PERIODIC (or physical) method of recording inventory. Purchases Ale Sales No Sales Returns No (2 marks) (e) (1) Calculate the gross prot for the week under the PERPETUAL (or continuous) method. Include any stock loss in the calculation

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