BLAST DALAM KAMPUS S Required: Prepare a bank reconciliation for Restaurant Selera Utara 31st March, 2018 QUESTION 1 (PART B) Megah Cendana Enterprise maintains a perpetual inventory system and uses the Last In First Out (LIFO) inventory valuation method. The following information is recorded in Megah Cendana Enterprise business book for year 2017. January 1 Beginning Inventory 12 units @ RM25 per unit March 3 Sales 6 units June 30 Purchases 20 units @ RM2 August 29 Sales 11 units October 23 Sales 6 units November 29 Purchases 12 units@ RM30 per unit Required: (a) Assuming Megah Cendana Enterprise maintains a perpetual inventory system and uses the Last In First Out (LIFO) inventory valuation method. Determine the cost of ending inventory and cost of goods sold for Megah Cendana Ltd for the year 2017. (b) Assuming Megah Cendana Enterprise maintains a periodic inventory system and uses the First In First Out (FIFO) inventory valuation method. Determine the cost of ending Mocah rendana Ltd for the year 2017