Section A Fill in the blank. ( 3 marks each, 30 marks in total) A1. The inventory method that will always produce the same amount for cost of goods sold in a periodic inventory system as in a perpetual inventory system is A2. Name any two documents that commonly for updating the quantities in the inventory records i. ii. A3. The purchases of an inventory item in a period were: There was no opening inventory. 700 units were issued on Day 15 . The FIFO method is used. The valuation of the closing inventory is A4. During periods when costs are rising, closing stock valuation under FIFO will be than LIFO and the cost of sales under FIFO will be than LIFO. A5. The following data refers to a particular inventorv item: The weighted average method is used to value inventory issues. A revised weighted average price is calculated after each purchase. The average cost price per unit for the issue on Day 7 is A7. Refer to the information in A6 above: The minimum stock level for Material A is A8. Pam runs a mail-order business for gym equipment. Annual demand for the TricoFlexers is 16,000 . The annual holding cost per unit is $2.50 and the cost to place an order is $50. The economic order quantity (EOQ) for TricoFlexers is A9. Suppose a company purchases raw material at a cost of $16 per unit. The annual demand for the raw material is 25,000 units. The holding cost per unit is $6.40 and the cost of placing an order is $32. The EOQ is A10. If annual consumption is 150000 units, the cost of reordering is RM250 and the storage and holding cost per unit is RM48, then the economic order quantity would be