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Question 3 Mun Co has 200 units of beginning inventory with unit cost of $10, on 1 January 2022. In the month of January, Mun

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Question 3 Mun Co has 200 units of beginning inventory with unit cost of $10, on 1 January 2022. In the month of January, Mun Co bought 500 units with unit cost of $12 on 12 January, and bought another 300 units with unit cost of $15 on 20 January. A physical inventory taken on January 31 confirmed that there were 400 units of ending inventory. Mun Co uses periodic inventory system, and the weighted average method is used. Required: (a) Calculate the total units available for sale in January, and the cost of goods available for sale in the month of January, (5 marks) (b) Calculate the cost of closing inventory as at January 31. (3 marks) (c) Calculate the cost of goods sold in the month of January (2 marks) (Total: 10 marks)

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