marks) QUESTION 5 Kegin Company sells many products. Whamo is one of its popular items. Below is an analysis of the inventory purchases and sales of Whamo for the month of March. Kegin Company uses the perpetual inventory system. Purchases Sales Units Unit Cost Units Selling Price Unit 3/1 Beginning inventory 100 RM40 3/3 Purchase 60 RM50 3/4 Sales 70 RM80 3/10 Purchase 200 RM55 3/16 Sales 80 RM90 3/19 Sales 60 RM90 3/25 Sales 70 RM90 3/30 Purchase 40 RM60 Required: (a) Using the FIFO assumption, calculate the amount assigned to the inventory on hand and the amount charged to cost of goods sold for March. (5 marks) (b) Using the weighted average method, calculate the amount assigned to the inventory on hand and the amount charged to cost of goods sold for March. (5 marks) (Total: 10 marks) QUESTION 6 Condensed statement of financial position and statement of profit or loss data for Orange Berhad appear below: Orange Berhad Statements of financial position December 31 Plant and equipment (net Investments Other current Account receivable (net) Cash 2017 (RM) 2016(RM)2015 (RM) 400,000 370,000 35.000 75.000 90.000 95.000 50,000 25.000 20.000 18.000 6.40,000 600 53000 marks) QUESTION 5 Kegin Company sells many products. Whamo is one of its popular items. Below is an analysis of the inventory purchases and sales of Whamo for the month of March. Kegin Company uses the perpetual inventory system. Purchases Sales Units Unit Cost Units Selling Price/Unit 3/1 Beginning inventory 100 RM40 3/3 Purchase 60 RM50 3/4 Sales 70 RM80 3/10 Purchase 200 RM55 3/16 Sales 80 RM90 3/19 Sales 60 RM90 3/25 Sales 70 RM90 3/30 Purchase 40 RM60 Required: (a) Using the FIFO assumption, calculate the amount assigned to the inventory on hand and the amount charged to cost of goods sold for March (5 marks) (b) Using the weighted average method, calculate the amount assigned to the inventory on hand and the amount charged to cost of goods sold for March. (5 marks) (Total: 10 marks) QUESTION 6 Condensed statement of financial position and statement of profit or loss data for Orange Berhad appear below: Orange Berhad Statements of financial position December 31 2017 (RM)2016 (RM)2015 (RM)