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Solve questions ( d) and ( e ) only Using the keyboard please JUSCO, a chain of general merchandise stores (or hypermarket) and the largest
Solve questions (d) and (e) only Using the keyboard please
JUSCO, a chain of "general merchandise stores" (or hypermarket) and the largest of its type in Japan. The company follows Perpetual Inventory System. The company furnishes the following information for the month of January 2018: Date Unit cost (OMR) Description Opening Inventory Purchase Quantity 3,500 10 4,500 13 Sales 1,200 Purchase 3,300 14 Purchase 12 January 1 January 5 January 6 January 8 January 10 January 14 January 20 January 22 January 24 January 29 January 30 4,500 2,300 Sales Purchase 1,600 16 Purchase 1,300 17 Sales 500 Sales 300 Purchase 650 11 re hase You are required to compute: a) The amount of Cost of goods sold under FIFO and Weighted Average Method b) Ending Inventory Value under FIFO and Weighted Average Method c) Ending Inventory in Units under FIFO and Weighted Average Method d) Show journal entries under FIFO and Weighted Average Method e) Which method is better FIFO or Weighted Average? JustifyStep by Step Solution
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