Question: please please answer quickly please please answer quickly K. Richard, a sole proprietor, buys and sells souvenir. His first five months of trading showed the

please please answer quickly

please please answer quickly please please answer

K. Richard, a sole proprietor, buys and sells souvenir. His first five months of trading showed the following purchases and sales. 2015 Sales Purchases 190 at RM24.00 each 130 at RM25.00 each January February March April May 225 at RM42.00 each 210 at RM26.00 210 at RM44.00 each Required: a) Show the closing inventory at 30 June 2015 using the FIFO (first in, first out) method of valuation. (5 marks) b) Show the closing inventory at 30 June 2015 using the LIFO (last in, first out) method of valuation. (5 marks) c) Show the closing inventory at 30 June 2015 using the AVCO (weighted average cost) method of valuation. (5 marks) [Total = 15 marks]

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