Assignment No. 8 (Methods of Determining the Cost of Inventory) Due date August 26, 2021 14:00 instructions Al-Amal Company uses the periodic inventory system for stock, and the following is the stock movement that took place during the month of 1st of the year 2021. Statement Quantity Unit purchase price The balance of the first duration 100 8 1/2 . purchases 200 9,5 1/7 . purchases 300 10 Purchases 1/15 200 11 1/25 . purchases 200 13 Total Number of units available for sale

Cost of merchandise available for sale If you know: 1- The company sold (200 units) at a selling price of 16 dinars per unit. 2- The operating expenses amounted to 3000 dinars. 3- The company is subject to a 40% tax rate.

Required: Find the cost of goods for the end of the period and the cost of goods sold according to the first-in-first-out method (Fifo)_ and the weighted average method (W.A), and prepare the partial income statement on 01/31/2021 according to the two methods.

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