Question 1:

On May 1: the beginning inventory 3000 units at SR4 cost per unit

During the month, the purchases were:

4000 units at SR3 cost per unit

5000 units at SR6 cost per unit

6000 units at SR5 cost per unit

The ending inventory: 2000 units

Required: Compute the cost of the ending inventory and the cost of goods sold using the following methods:

a)FIFO: First in First out

b)Average Cost