Question: Solve this please, and pls I want a short format, Thanks in Advance Question 4.4 Inventory data for Mushroom Corporation for the year ended December

Solve this please, and pls I want a short format, Thanks in Advance

Question 4.4

Inventory data for Mushroom Corporation for the year ended December 31, 2023, are as follows:

Beginning inventory 50 units at $150 each

March 31 purchase 50 units at $155 each

1st quarter sales 60 units

June 30 purchase 55 units at $160 each

2nd quarter sales 70 units

September 30 purchase60 units at $170 each

Required

  1. Compute the perpetual ending inventory balance on December 31, 2023, using:
    1. FIFO
    2. Weighted-average

Question 4.5 (Total: 21 marks)

The following data are available for Yoshi Corporation:

Beginning inventory

$12,500

Purchases returns and allowances

800

Purchases

45,000

Sales

85,400

Purchases discounts

1,200

Sales returns

2,000

Sales discounts

1,300

Operating expenses

31,700

Ending inventory

15,000

Compute the following

Required

  1. Net purchases
  2. Net sales
  3. Cost of goods sold
  4. Gross profit

Question 4.6 (Total: 12 marks)

Calculate inventory turnover for the following independent situations.

Required

  1. Ending inventory $25,000

Purchases during the year127,000

Beginning inventory 30,000

  1. Purchases during the year$350,000

Beginning inventory 50,000

Ending inventory 42,500

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