Source: E. Snietek, E. Walinska, M. Frendrel, J. Stepieh-Andrrejewska, "Financial Accounting", CCAE, todi, 2007, Chapter 2, Part II, Exercise 1 The supplementary ledger account of material Z presented the following entries in June 200 : Required: Calculate the ending inventory cost and the cost of used materials Z for each of the given methods: a) weighted average cost method; b) FIFO; c) LIFO4 Exercise 2 The balance sheet of the company A as at 01.12.20X1 Accounting operations in December: 1. 100 units of material X were purchased at 12 per unit. - Purchase price 1200 - Transport cost 100 2. 200 units of material X were purchased at 13 per unit. - Purchase price 2600 - Transport cost 100 3. 200 units of material X were issued to production (work in progress). 4. Salaries were calculated 4000(2 man-hours per 1 product, value of 1 man-hour is 10). 5. Production of 200 units was finished (no work in progress). 6. 100 units of finished goods were sold at 35 per unit. Required: Present the financial statement as at the end of December 201, taking into account the following accounting policy of company A