Tutorial Chapter 5 - Tutorial Chapter 5 1 Bought Purchased...

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Tutorial Chapter 5 1. Bought / Purchased Sold 2011 RM 2011 RM March 200 @ RM20 4000 Dec [email protected] RM30 7200 Sept. [email protected] 2200 From the above figures, calculate the closing inventory that would be shown using i. FIFO ii. LIFO iii. AVCO 2. Bought / Purchased Sold 2011 RM 2011 RM Jan [email protected] 1920 June [email protected] 2750 Apr [email protected] 1440 Nov [email protected] 5250 Oct [email protected] 2850 a) From the above figures, calculate the closing inventory that would be shown using i. FIFO ii. LIFO
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iii. AVCO 3. On 1 Jan, Mr. G started a small business buying and selling a special yarn. He invested his savings of RM40000 in the business and during the next 6 months, the following transactions occurred. Yarn Purchase Yarn Sales Date Receipt Qty (boxes) Total cost (RM) Date
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