Question: EXERCISE 2 . 4 2 . 4 Beginning inventory, purchases, and sales data for Commodity Y for June are presented below:Sales, June 9 REQUIRED: (
EXERCISE Beginning inventory, purchases, and sales data for Commodity Y for June are presented below:Sales, June REQUIRED: a Assuming that the perpetual inventory system is used, costing by the moving average method, determine the cost of the inventory balance at June. Show clear workings. Work to the nearest cent. b Assuming that the periodic inventory system is used, costing by the weighted average method, determine the cost of the units in the physical inventory at June. Work to the nearest cent. c Determine the amount of the difference between the inventory cost in a and b and explain the reason for the difference.
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