Question
Assume the following data for Kruger Sales for November 2013: Beginning inventory Nov. 15 units at $90 each Sale Nov. 33 units Nov. 6 purchase11
Assume the following data for Kruger Sales for November 2013:
Beginning inventory Nov. 15 units at $90 each
Sale Nov. 33 units
Nov. 6 purchase11 units at $95 each
Sale Nov. 84 units
Sale Nov. 93 units
Requirement 1: calculate ending inventory and COGS for Kruger Sales assuming FIFO (10 marks)
Requirement 2: calculate ending inventory and COGS for Kruger Sales assuming Weighted Average (6 marks)
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Auditing The Procurement Function The Iia Research Foundation Handbook Series
Authors: David O Regan, CIA, FCA
1st Edition
0894136224, 978-0894136221
