Question: Please solve in (IFRS) principles method not (FASB) Question four: (15 marks) The following data are available on flow inventory during 2020 for the Dumber

Please solve in (IFRS) principles method not (FASB)
Please solve in (IFRS) principles method not (FASB) Question four: (15 marks)

Question four: (15 marks) The following data are available on flow inventory during 2020 for the Dumber company which use perpetual system: data sold Data # units purchased 1/1/2020 9000 10/1/2020 25000 11/1/2020 (4000) 8/4/2020 10000 13/6/2020 14000 21/9/2020 6000 26/12/2020 3000 Unit cost 15 19 19 18.4 14.5 18.00 21.75 30/1/2020 01/02/2020 9/5/2020 11/6/2020 23/10/2020 27/12/2020 12000 @ $40 (2000) @40 15000@33 7000 @27 9000 @34 8000@22 Required: Calculate the ending inventory under moving perpetual at FIFO and weighted average methods

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Accounting Questions!