Question
Question 4 Just League Sdn Bhd has the following information regarding the purchase and issue of inventory recorded in the stock card for the month
Question 4
Just League Sdn Bhd has the following information regarding the purchase and issue of inventory recorded in the stock card for the month of Januay 2020.
| Date | Details | Kgs | Unit Price $ |
| 1/1 | Balance | 4000 | 10 |
| 4/1 | Bought | 7000 | 12 |
| 27/1 | Sold | 5000 |
|
| 29/1 | Sold | 5000 |
|
| 31/1 | Bought | 3000 | 14 |
a) Prepare a table showing the value and quantity of the inventory as at 31 January using the First In First Out method
(10 marks)
b) Prepare a table showing the value and quantity of the inventory as at 31 January using the Average Cost method
(10 marks)
( Total : 20 marks)
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Managerial Accounting Tools for business decision making
Authors: Jerry J. Weygandt, Paul D. Kimmel, Donald E. Kieso
6th Edition
978-0470477144, 1118096894, 9781118214657, 470477148, 111821465X, 978-1118096895
