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Question 3 The inventory records of Delta Ltd. showed the following transactions for one item of inventory Transaction Units Unit Cost 1. Opening Inventory 30
Question 3 The inventory records of Delta Ltd. showed the following transactions for one item of inventory Transaction Units Unit Cost 1. Opening Inventory 30 $19 2. Purchase 45 $22 3. Sale (@$30/unit) 50 4. Purchase $23 5. Sale (@$32/unit) 50 6. Purchase 50 $25 50 Required: Calculate and complete the total dollar amounts for the following table: (Round all average cost amounts to two decimal places for calculations Show all answers using two decimal places.) Method COGS ($) Ending Inventory ($) FIFO - Perpetual Average Cost Periodic Average Cost - Perpetual NOTE: you must show ALL your calculations below and/or on a separate new page to prove your answers above, or you receive ZERO marks
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