QUESTION 3 15 MARKS A. Trot Company's inventory of $1,000,000 at December 31, 2017, was based on a physical count of goods priced at cost and before any year-end adjustments relating to the following items Goods shipped from vendor fo.b. shipping point on. December 24, 2017, at an invoice cost of S69,000 to Trot Company were received on January 4, 2018, The physical count included $29,000 of goods billed to Sears Inc. fo.b. shipping point on December 31,2017. The carrier picked up the goods on January 3, 2018 What amount should Trot Company report as inventory on its December 31, 2017 statement of financial position? 12 marks] Distinguish between the concepts of weighted average cost and moving average cost when looking at inventory valuation method. 2 marks C. Hildegard Company had the following transactions for October 2017 when it had 100 units valued at S600 at the start of the month. Oct 5 Sale Oct 12 Purchase 150 unitsS6.50 each 80 units $8 each Oct 15 Sale Oct 22 Purchase Oct 29 Sale 120 units @ $8.75 each 160 units@ $7 each 100 units S9 each Compute the cost of ending inventory and the gross profit for Hildegard Company for October 2017 under each of the methods discussed in Part B above. [11 marks Page 4 6 Q + QUESTION 4 NE uW Open-Camp..doc uwi-Open-Camp.docview doc