Question 10 -- / 10 An organisation's inventory at 1 October 2019 is 40 units at 4.00 each. The following movements occur during October. 4 October Sell 20 units at 6.00 each Purchase 30 units at 5.00 7 October each 14 October Sell 30 units at 7.50 each Purchase 20 units at 5.50 19 October each 24 October Sell 25 units at 9.00 each Determine the value of closing inventory using FIFO 82.50 1 95 2 3 78.50 4 90 Question 11 - / 10 An organisation has a receivables balance of 200,000. Before preparing its financial statements the following must be accounted for: A debt of 15,000 is irrecoverable and must be written off A specific allowance of 20% of a debt for 50,000 is required A general allowance of 5% of the remaining receivables is required What balance will be shown on the Statement of Financial Position for receivables? 1 200,000 2 185,000 166,250 3 168,250 4 Question 12 -- / 10 An organisation's inventory at 1 October 2019 is 40 units at 4.00 each. The following movements occur during October. 4 October Sell 20 units at 6.00 each 7 October each Purchase 30 units at 5.00 14 October Sell 30 units at 7.50 each Purchase 20 units at 5.50 19 October each 24 October Sell 25 units at 9.00 each Determine the value of closing inventory using periodic weighted average cost 65.5 1 2 72.20 71.25 3 70.05 4 st