Question: QUESTION 3 als v repare aders The following transactions occurred during August for BNE Pty Ltd. se the August 1 Inventory on hand was 20

QUESTION 3 als v repare aders The following transactions occurred during August for BNE Pty Ltd. se the August 1 Inventory on hand was 20 units at a cost of $15 per unit August 6 Purchased 10 units for cash for 518 per unit August 12 Sold 25 units for cash at a selling price of 535 per unit August 31 Inventory on hand was 5 units Pai 2. Ca 3. Ow 1. Pro 5. Re 6. Pai 7. Pui (a) Calculate the cost of sales during August using the FIFO inventory costing method. (1 mark) (b) Prepare the journal entries to record the two transactions in August using the FIFO perpetual inventory method (6 marks)

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