TUTORIAL TOPIC: INVENTORY CHAPTER/TOPIC: INVENTORY PERIODICAL & PERPETUAL /: Question: 1. The following information was extracted from the books of DNO Sdn. Bhd. in the year of 2020: Date Detail Jan 1 Beginning inventory: 100 units at RM3.00 per unit Feb 5 Purchase 500 units at RM3.20 per unit Mar 8 Sold 450 units at RM6.50 per unit May 27 Purchased 700 units at RM3.60 per unit June 3 Sold 400 units at RM6.15 per unit Sep 11 Sold 200 units at RM6.20 per unit Oct 12 Purchase 50 units at RM3.80 You are required to: (a) Prepare store ledger card using Lastin - First out (LIFO) method. (b) Using the information in DNO Sdn Bhd, prepare Statement of Profit and Loss (until gross profit) for the period ended 31 December 2020 (c) Prepare journal entries from Jan 1 until March 8. The following information was extracted from the book of Peca Sdn. Bhd. in the year 2020: 2. Date Detail Jan 1 Beginning inventory: 400 units at RM4.00 per unit Feb 15 Purchase 500 units at RM4.20 per unit Mar 18 Sold 450 units at RM5.50 per unit May 2 Sold 300 units at RM5.60 per unit June 30 Purchase 500 units at RM4.90 per unit You are required to: (a) Calculate the gross profit using periodical method (without store ledger card): (Note: Show all relevant workings) 0). Weighted Average valuation method (i) Last In first out method (ili) First In First Out method (b) Prepare journal entries under LIFO method from Jan 1 until Mar 18