Q$-(5$ Marks: c$1$:$5)$: Asian company record their transactions concerning part $x$ for the month of March

was as follows.

$[5$ Marks$]$

Instructions

a$.$ Compute the inventory at March $30$ on each of the following bases. Assume that perpetual

inventory records are kept in units only. $($Carry unit costs to the nearest cent.$)$

Specific identification; ending inventory is comprised of $200$ units from beginning inventory

and $350$ units from the March $27$ purchase.

First$-$in$,$ first$-$out $($FIFO$).$

Average$-$cost$.$

b$.$ If the perpetual inventory record is kept in Dinar, and costs are computed at the time of each

withdrawal, what amount would be shown as ending inventory in $1,2,$ and $3$ above? $($Carry

average unit costs to four decimal places.$)$