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Part B Faizal Company prepared the following information for the month of September 2020. The company uses perpetual inventory system to manage inventory. Purchases Unit
Part B Faizal Company prepared the following information for the month of September 2020. The company uses perpetual inventory system to manage inventory. Purchases Unit Cost Units (RM) 500 20 1,200 Sales Unit Selling Price (RM) Units 22 1,400 65 Sep 1 Begin. inventory 5 Purchases 10 Sales 14 Purchases 18 Sales 26 Purchases 28 Sales 3,000 20 2,400 60 1,500 22 1,500 65 Required: Prepare a schedule to show the value assign to cost of goods sold and ending inventory as at 30 September 2020 by using the Average method. (15 marks)
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