Question: fProject 1 1 Part 1 Using the inventory flow assumptions of weighted average, LIFO and FIFO calculate the inventory and cost of goods sold for

$\fProject 1 1 Part 1 Using the inventory flow$ $\fProject 1 1 Part 1 Using the inventory flow$

\fProject 1 1 Part 1 Using the inventory flow assumptions of weighted average, LIFO and FIFO calculate the inventory and cost of goods sold for an organisation with the following transactions and records and use the information to develop an inventory report/ comparison report. Present your calculations and any relevant assumptions in a report format suited to the financial services industry. The organisation's records show the inventory and the purchases to be: Opening inventory 350 units @ 525 Purchases December 1 300 units @ 530 February 17 500 units @ 528 April 21 250 units @ 535 June 6 300 units @ 535 The organisation has an opening inventory of 350 units and a closing inventory of 650. Sales figures for the period were $108 000

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