Question: Question four: (15 marks) The following data are available on flow inventory during 2020 for the Dumber company which use perpetual system: Data data sold

 Question four: (15 marks) The following data are available on flow

Question four: (15 marks) The following data are available on flow inventory during 2020 for the Dumber company which use perpetual system: Data data sold 1/1/2020 10/1/2020 11/1/2020 8/4/2020 13/6/2020 21/9/2020 26/12/2020 #units purchased 9000 25000 (4000) 10000 14000 6000 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? Question five: (10 marks) The following information available on fiscal count of Raton ending inventory: Group FS Group DR Group TV Item A Item B Item C Item D Item E Item F Units 250 300 50 200 400 70 Selling price 32 43 62 14 56 Expected cost to Sell 12 7 8 8 2 11 55 30 30 6 80 67 Cost 55 Required: 1- If the company pricing its inventory at LCNRV, calculate the ending inventory at total, groups and individual methods? 2- if the company use the total method and allowance method journalize any entry required for LCNRV if the adjusted has debited balance $250

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