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b. The following are G-DRAGON Ltd store transactions during December 2021. The company sells Kimchi sauce in bottles of 100ml imported mainly from Korea.
b. The following are G-DRAGON Ltd store transactions during December 2021. The company sells Kimchi sauce in bottles of 100ml imported mainly from Korea. The following are the details for the month of December 2021. Purchases 3rd Quantity Cost per unit (RM) 100 3,000 7th 100 3,380 15th 200 4,080 27th 120 4,250 Issues Quantity 10th 150 23rd 80 28th 210 Required: Prepare the store ledger card using: (i) FIFO (7 marks) (ii) LIFO (7 marks) (iii) Cumulated Weighted Average Cost Method (7 marks) Outline TWO (2) advantages for the F.I.F.O. and L.I.F.O method of stock valuation. (4 marks) (Total: 25 marks)
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