Question: REQUIRED: (Round all figures to TWO (2) decimal points) (a) Calculate the amount of ending inventory as at 31 December 2019 using the method of:

REQUIRED: (Round all figures to TWO (2) decimal points) (a) Calculate the amount of ending inventory as at 31 December 2019 using the method of: First in first out (FIFO) (ii) Weighted average cost method (b) Prepare the Income Statement for the Year 2019 by referring to both FIFO and weighted average cost method effects. (c) Assuming that you are an accountant of De Luna Bhd. If you have been given a chance to choose between the two method, which one you prefer and why

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