CASE 3 (20%) Beltana Cookies had following transactions occur in June to September 2020. Jun. 2 Hany buys 20 kg flour on account from Lisbon Company for Rp. 240,000 (Rp. 12,000 each), FOB destination, terms n/30. 16 She sells 10 kg flour for Rp. 230,000 cash. 25 She pays the amount owed to Lisbon Company. Jul. 2 She buys 10 kg flour on account from Lisbon Company for Rp. 12,360, FOB destination, terms n/30. 30 Hany sells 20 kg flour for a total of Rp. 460.000 cash. 31 She pays the amount owed to Lisbon. Aug. 1 She buys 20 kg flour on account from Lisbon Company for Rp. 244,800 (Rp. 12,240 each), FOB destination, terms n/30. She sells 30 kg flour for a total of Rp. 690,000 cash. 13 30 4 Sep Hany pays the amounts owed to Lisbon. She buys 30 kg flour on account from Lisbon Company for Rp. 375,000 (Rp. 12,500 each), FOB destination, terms n/30. She sells 10 kg flour for Rp. 230,000 cash. 27 Assume that Beltana use a periodic inventory system and at the end of May, she had 30 kg flour on hand at a cost of Rp. 11,900 each. Instructions: 1. Determine the cost of goods available for sale. 2. Calculate the ending inventory, cost of goods sold, gross profit, and gross profit rate under the FIFO and average cost methods. 3. Compare and explain results for the two cost flow assumptions. 5 CASE 3 (20%) Beltana Cookies had following transactions occur in June to September 2020. lun, 2 Hany buys 20 kg flour on account from Lisbon Company for Rp.240,000 (Rp. 12,000 each), FOB destination, terms/30 16 She sells 10 kg flour for Rp. 230,000 cash. 25 She pays the amount owed to Lisbon Company Jul. 2 She buys 10 kg flour on account from Lisbon Company for Rp. 12,360, FOB destination, terms 1/30. 30 Hany sells 20 kg flour for a total of Rp. 460.000 cash 31 She pays the amount owed to Lisbon. 1 She buys 20 kg flour on account from Lisbon Company for Rp. 244,800 (Rp. 12,240 each), FOB destination, terms /30. 13 She sells 30 kg flour for a total of Rp. 690,000 cash, Pared by [Sivia Dewey (D5803) and sent to Department Program on OCT 20, 102 Page 3 of 5 Aug FM-BINUS-AA-FPU-78/V2R 30 4 Sep Hany pays the amounts owed to Lisbon She buys 30 kg flour on account from Lisbon Company for Rp. 375,000 (Rp. 12.500 each), FOB destination, tern n/30 She sells 10 kg flour for Rp 230,000 cash 27 Assume that Beltana use a periodic inventory system and at the end of May, she had 30 kg flour on hand at a cost of Rp 11.900 each Instructions: 1. Determine the cost of poods available for sale 2. Calculate the ending inventory cost of goods sold, gross profit and gross profit rate under the FIFO and average cost methods 2. Compare and explain results for the two cost flow motion