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Question 11 (6 marks) Harlow Limited uses the periodic inventory system and had the following inventory information available for the financial year ended 31 December

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Question 11 (6 marks) Harlow Limited uses the periodic inventory system and had the following inventory information available for the financial year ended 31 December 2022: Units Unit cost 1 Jan 15 $4.00 Beginning inventory Purchase 20 Jan 60 $4.40 25 Jul Purchase 30 $4.20 20 Oct Purchase 45 $4.80 A physical count of inventory on 31 December 2022 revealed that there were 50 units left on hand. Q11(a): Assume that the company uses the FIFO method. Calculate the value of the ending inventory at 31 December 2022. (Show computations). Q11(b): Assume that the company uses the average cost method. Calculate the value of the ending inventory on 31 December 2022. (Show computations). Calculate the value of the ending Q11(c): Assume that the company uses the LIFO m nod inventory on 31 December 2022. (Show computations). Q11(d): Assume that the company uses the FIFO method. Calculate the value of the cost of sales for the financial year ended 31 December 2022. (Show computations)

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