Pardo, a chain of general merchandise stores and the largest of its type in UAE. The...

 

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Pardo, a chain of "general merchandise stores" and the largest of its type in UAE. The company follows Perpetual Inventory System. The company furnishes the following information for the month of January 2022: Date Description January 1 January 6 January 9 January 11 January 12 January 14 January 20 January 22 January 24 Opening Inventory Purchase Sales Purchase Purchase Sales Purchase Purchase. Sales Quantity 1,700 4,700 1,400 3,500 4,700 2,500 1,800 1,500 700 Unit cost (OMR) 15 16 16 17 18 19 جامع لا You are required to compute: a) The amount of Cost of goods sold and Ending Inventory Value based on Weighted Average Method using periodic inventory system. b) Prepare the Journal entries based on Weighted Average Method using periodic inventory system. Pardo, a chain of "general merchandise stores" and the largest of its type in UAE. The company follows Perpetual Inventory System. The company furnishes the following information for the month of January 2022: Date Description January 1 January 6 January 9 January 11 January 12 January 14 January 20 January 22 January 24 Opening Inventory Purchase Sales Purchase Purchase Sales Purchase Purchase. Sales Quantity 1,700 4,700 1,400 3,500 4,700 2,500 1,800 1,500 700 Unit cost (OMR) 15 16 16 17 18 19 جامع لا You are required to compute: a) The amount of Cost of goods sold and Ending Inventory Value based on Weighted Average Method using periodic inventory system. b) Prepare the Journal entries based on Weighted Average Method using periodic inventory system.

Answer rating: 100% (QA)

Purchases Sales date description Quantity Unit cost Value Quantity Unit cost Value Quantity Unit cos... View the full answer