please use your own words dont copy and paste (no plagiarism)

- please use keyboard (don't use handwriting)

- All answered must be typed using Times New Roman (size 12, double-spaced) font.

- no pictures containing text

Q1-A.

What is the bank reconciliation? why is it important for companies to prepare bank reconciliation periodically?

Q1-B

A company that uses a perpetual inventory system made the following cash purchases and sales. There was no beginning inventory.

January 1:	Purchased 30 units at SAR11 per unit
February 5:	Purchased 30 units at SAR 13 per unit
March 16:	Sold 50 Units for SAR 15 per unit

A.Prepare general journal entries to record the March 16 sale using the

1. FIFO inventory valuation method.
2. LIFO inventory valuation method.
3. Weighted average valuation method.

Q1-C

What is the cost of goods sold and the gross margin for each method?