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CASE NON INVENTORY VALUATION METHODS TESCO is a British multinational groceries and general merchandise retailer with headquarters in Welwyn Garden City, Hertfordshire, England, United Kingdom It is the thurd largest retailer in the world measured by gross revenues it has shops in seven countries across Asia and Europe. It is the market leader of groceries in the UK, Ireland, Hungary, and Thailand. It provides the following purchases and sales of Merchandic Inventory for the month of June 2020 Date Details June 2 Purchases June 3 Purchases June 9 Purchases June 15 Purchases June 22 Purchases Total Purchases Units 600 400 200 600 1.000 2,800 Unit Price 20 30 34 40 25 OMR 12 000 12 000 6.800 24,000 25,000 79,800 Date Details Units Unit Price June 7 Sales 600 60 June 17 Sales 500 80 June 25 Sales 200 45 Total Sales 1.000 Company follows Perpetual Inventory System. All purchases and sales are on credit basis OMR 36 000 40,000 9,000 85.000 85,000 Total Sales 1,300 Company follows Perpetual Inventory System. All purchases and sales are on credit basis. You are required to: a) Compute the cost of goods sold and closing inventory value under FIFO and Weighted Average Method b) Identify necessary journal entries for the above purchase and sales of Merchandise Inventory under FIFO method Paso A BAAC200