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Question six: (10 marks) The following is the card goods for Pablo Company for November 2017: data # units Unit cost data sold purchased Balance
Question six: (10 marks) The following is the card goods for Pablo Company for November 2017: data # units Unit cost data sold purchased Balance 600 6 3 500 @$10 4 1500 6.08 9 1300 @10 8 800 6.4 11 500 @11 13 1200 6.5 23 1200@11 21 700 6.5 27 900 @12 29 500 6.79 Assuming the company used periodic inventory system under weighted average flow cost method. equired: 1) Calculate the ending inventory. 2) If the company uses the cost method to record the net realizable value and the beginning balance was $ 300 credit with net realizable value for this year for ending inventory $4700, recorded the required entries. 3) If the company uses the lose method to record the net realizable value and the beginning balance was $ 400 debit with net realizable value for this year for ending inventory $5000, recorded the required entries
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