AutoSave Off File Home 5+0 Insert Design Mailings Tutorial 3-week 5 (Inventories) (1) - Protected View - Saved to this PC Review View Help mok catherine Search Share Comments Layout References PROTECTED VIEW Be careful-files from the Internet can contain viruses. Unless you need to edit, it's safer to stay in Protected View. Page 1 of 3 H 81 of 695 words Type here to search Exercise 13.5 Enable Editing Inventory cost methods perpetual inventory system Non-GST version The following information relates to the inventory of Gadgets Ltd during May. 80 units @ $7 May 1 Beginning Inventory 3 Purchased 10 Purchased 12 Sold 17 Sold 25 Sold 90 units @ $8 110 units @ $9 90 units 80 units 30 units Gadgets Ltd uses a perpetual inventory system. Ignore GST. Required Determine the cost of the ending inventory (assuming there have been no stock losses) and the cost of sales, using the following three methods: (a) the moving average; round unit cost to the nearest cent. (b) specific identification; assume that the ending inventory on 31 May consisted of 13 units from the beginning inventory, 24 units from the 3 May purchase, and the remainder from the 10 May purchase. (c) FIFO. (LO3) Exercise 13.10 Effects of inventory errors Toowoomba Irrigation Ltd began operations in the south-east Queensland region in July 2015. o e C ENG x 9:02 PM 4/26/2020 + 100%