Dhaka electronics has the following inventory data:

Date        Explanation    Units      Unit Cost       Total cost         Balance in Units

1/1/2020 Begining        180         10.5                     1890               180

                 Inventory                                                                                

4/15/2020 Purchases    200         11                      2200               380

8/24/2020 Purchases   330         12                      3960               710

9/10/2020  Sales            550                                                           160

11/27/2020 Purchases   400         13                      5200                560

11/30/2020 Sales            250                                                            310

                                                                                    13250

Instructions:

a.Under perpectual inventory system,determine the cost of inventory on hand at December 31 and the cost of goods sold for march under FIFO, Average-Cost.

b.Determine the amount of gross profit under each method if sales revenue is 12500

c.Explain the impact of using different methods on net operating income.

Answer rating: 100% (QA)

a Under perpetual inventory system the cost of inventory on hand at December 31 and the cost of good... View the full answer