Task 2 (Inventory)

The table below contains information taken from the company's inventory system BCD ehf. for item number XY1234 in December 2020. Inventories were counted on 2 January 2021 and it was then discovered that 520 units were in stock. Note that the position on December 1st shows stocks that were present at the beginning of the season.

The following needs to be resolved;

Calculate inventory value, cost price and margin. Calculate items 2 and 3 both m.v. inventory accounting (perpetual system) and inventory (periodic system) Specific identification price, where the final inventory consists of 100 units of initial inventory and 225 units from purchases made on 26 April. First-in, first-out (FIFO) Average cost

It is not necessary to show entries in the accounts, but all calculations must be shown.

	day	purchased unit	purchase price	units sold	sale price
	01/12/2020	210	475
	04/12/2020	500	490
	05/12/2020			450	750
	11/12/2020	350	510
	12/12/2020			325	750
	16/12/2020	600	515
	20/12/2020	800	540
	22/12/2020			1.475	825
	29/12/2020			150	775
	30/12/2020	500	515