Question: a. Explain why the inventory costing method affects the financial reporting numbers. b. Compare the value of the office chairs on hand as at 30

a. Explain why the inventory costing method affects the financial reporting numbers.
b. Compare the value of the office chairs on hand as at 30 June, to be included in the inventory balance on the balance sheet, using the following cost flow assumptions:
i. FIFO
ii. weighted-average

Price (S) Date Opening balance August October December March Total Units 14 25 30 35 45 149 110 122 130 128 128 Total (S) 1 540 3 050 3 900 4 480 5 760 18 730

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