2.) The following transactions occurred in Some Girls Are Bad Enterprise, dealers of men's underwear, during...

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2.) The following transactions occurred in Some Girls Are Bad Enterprise, dealers of men's underwear, during the year. DATE OF QUANTITY TOTAL COST DATE OF QUANTITY TOTAL VALUE RECEIPT PURCHASED (GHC) DISPATCH SOLD (GHC) 15/2 300 10,800 20/4 3 600 30,000 218/4 300 11,400 18/56 600 27,000 425/4 500 20,000 25/10 500 20,000 13/5 500 17,500 30/9 500 14,000 At the beginning of the year, there were 300 units of stock items valued at GHC10,200. A Physical stock count at the end of the year showed a closing stock 650 units. Other operating expenses incurred during the year amounted to GHC1,900. You are required to determine the net profit margin using the FIFO and Weighted Average Method of pricing Material Issues. 2.) The following transactions occurred in Some Girls Are Bad Enterprise, dealers of men's underwear, during the year. DATE OF QUANTITY TOTAL COST DATE OF QUANTITY TOTAL VALUE RECEIPT PURCHASED (GHC) DISPATCH SOLD (GHC) 15/2 300 10,800 20/4 3 600 30,000 218/4 300 11,400 18/56 600 27,000 425/4 500 20,000 25/10 500 20,000 13/5 500 17,500 30/9 500 14,000 At the beginning of the year, there were 300 units of stock items valued at GHC10,200. A Physical stock count at the end of the year showed a closing stock 650 units. Other operating expenses incurred during the year amounted to GHC1,900. You are required to determine the net profit margin using the FIFO and Weighted Average Method of pricing Material Issues.

Answer rating: 100% (QA)

1 FIFO Method Purchases Date Units Rate Cost Cost Units Beg Bal 300 152 300 3600 10800 300 184 300 3... View the full answer