The following information is taken from the records of Wildlife Florist. The company uses the perpetual inventory system.

Date	Description	Units	Unit Cost (RM)
Dec1	Opening inventory	200	20
Dec 5	Sale	108
Dec 6	Purchase	200	18
Dec 12	Purchase	125	17
Dec 13	Sale	300
Dec 19	Purchase	350	21
Dec 29	Purchase	150	18
Dec 30	Sale	400

Required:-

a) Calculate cost of goods sold and the cost of ending inventory under each of the following inventory cost flow assumptions:

1. 1. FIFO.
2. 2. Weighted average.

(14 mark)

2. Assume each unit was sold for RM25. Complete the following partial income statements:

	FIFO	Weighted Average
Sales
Less: Cost of Sales
Gross Profit

(6 mark)