Answered step by step
Verified Expert Solution
Question
1 Approved Answer
i would like to have the answer please! thank you Question B2 2 During 2013 Zack, a trader, purchased and issued Inventory as follows: Date
i would like to have the answer please!
Question B2 2 During 2013 Zack, a trader, purchased and issued Inventory as follows: Date Purchased Issued to Production/Sales January 150 units E12.00 March 180 units E15.00 5 April 200 units June 250 units E18.00 July 200 units E18.00 September 400 units November 100 units E20.00 December 150 units 12 (a) The 750 units were all sold at 40.00 per unit Zack had no opening stock at 1" 10 January 2013 11 Required: Calculate the value to be allocated to Zack's three inventory issues, its closing inventory at 31 December and gross profit for the year under: () Pret In First Out (FIFO) inventory valuation (10Average method (AVC] of inventory valuation (b) Explain why the differing stock valuation systems result in different gross pront figures, even though purchases and sales are identical. [8] [8] 15 [4] 16 17 18 19 22 + + SRBS889UBUNGEN GEE 24 25 26 27 28 32 34 35 36 37 38 39 40 42 thank you
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started