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please include the calculations for how you got the values, thank you!:) Maps Gmail O Logo QUESTION B3 (5+5+5+3 = 18 marks) Spencer Consolidated Industries
please include the calculations for how you got the values, thank you!:) Maps Gmail O Logo QUESTION B3 (5+5+5+3 = 18 marks) Spencer Consolidated Industries sells one type of digital Camera and uses a Perpetual inventory system. The 1st November inventory consisted of 15 units at $105 each. During November, the selling price was $200 and total operating expenses were $850. After making a visual inspection of the Stock in store, Spencer Consolidated Industries is of the opinion that 5 of the units Purchased on 3rd November and also 5 of the units Purchased on 16h November are still on hand. Transactions for the month were as follows: Date (November) 3 10 16 21 25 Purchased Sold Purchased Sold Sold 8 units at $107 per unit 9 units 10 units at $115 per unit 6 units 8 units Required Determine the Cost of goods available for sale, Cost of goods sold and Closing inventory under the following methods: 1. Moving Average 2. LIFO 3. FIFO 4. Specific Identification
please include the calculations for how you got the values, thank you!:)
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