Question: undefined Part I (16 marks) Sam Pan Electric uses a periodic inventory system. The beginning inventory of a particular product, and the purchases during the

undefined Part I (16 marks) Sam Pan Electric uses a periodic inventory undefined

Part I (16 marks) Sam Pan Electric uses a periodic inventory system. The beginning inventory of a particular product, and the purchases during the current year, were as follows: 1 Jan. Beginning inventory 8 Mar. Purchase... 11 Aug. Purchase. 23 Oct. Purchase.. 60 units @ 30 units @ 90 units @ 20 units @ $105 $115 $125 $135 $ 6,300 3,450 11,250 2,700 At 31 December, the ending inventory of this product consisted of 65 units. Using per dic costing procedures, determine cost of the year-end inventory and, (b) cost of goods sold relating to this product under each of the following flow assumptions: (Show calculations) a. Cost of the year-end inventory at 31 December (i) FIFO (4 marks) (ii) Weighted average cost (4 marks) b. Cost of goods sold (i) FIFO (4 marks) (ii) Weighted average cost (4 marks)

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