Question: very important to answer items A. A company reported the current month purchase and sales data for its only product and uses the perpetual inventory

 very important to answer items A. A company reported the current

very important to answer items

month purchase and sales data for its only product and uses the

A. A company reported the current month purchase and sales data for its only product and uses the perpetual inventory system. Determine the cost assigned to ending inventoyy and cost of goods sold using Weighted Average method . And using the information given below, prepare general journal entries to record the Transactions assuming a cash sale and purchase . Activities Units Ac uired at cost Units sold at retail Be_innin_ Inventol 10 units 1 S 91 Purchase 15 units (til 3 106 Sales 20 units @ $ 130 Purchase 20 units : S 115 Purchase 10 units a S 119 16 Sales 23 units (It), 3 150 After you solve the question your answer must include the following items : A Explain in details the journal entries g why its recorded in debit or credit side ) and the nature of account .19}: or Cr and its classication Assets , liabilities , owner's equity , Revenue or expenses . B The denition of Inventoyy , Inventoly cost , Beginning and ending inventory . (3 Explain the differences between perpetual system and periodic system as an inventory system . D ]]lustrate in details the differences between FIFO , LIFO and weighted average methods and its advantages f disadvantages. E What about the opinion of Egyptian Accounting Standards in the previous methods and the recommendation standard N042). 01' International Accounting Standards if available . F Dene the consistency principle and the benets of applying it . G- Why ending Inventoly must be reported by lower of cost or Market LCM H What is the effects of Inventory errors on nancial statements

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