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A ) Homework Ltd . has the following information on its inventories. Calculate the missing figures on 3 1 st January with FIFO method Inventory

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A) Homework Ltd. has the following information on its inventories.
Calculate the missing figures on 31st January with FIFO method
Inventory balance on 31.December 20X1:
B)
The balances of selected accounts of Homework limited liability company, as at 31 December 20x1 is listed below:
The closing inventory contains 5 items held for resale which are outdated so they can be sold only for 80% of their cost price. The expected selling
B)
The balances of selected accounts of Homework limited liability company, as at 31 December 20x1 is listed below:
The closing inventory contains 5 items held for resale which are outdated so they can be sold only for 80% of their cost price. The expected selling
cost is 5% of the selling price.
Calculate the following:
Net realizable value of 5 outdated items:
$
Amount of total closing inventory after NRV calculation:
$
Amount of COGS:
$
Gross profit on 31st December, 20X1?
$
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