Megadeth Sdn Bhd has the following information regarding the purchase and issue of inventory recorded in the stock card for the month of June 2020. Date Details Kgs Unit Price $ 1/6 Balance 1000 5 3/6 Bought 4000 6 7/6 Sold 3000 12/6 Bought 5000 7 20/6 Sold 3000 22/6 Bought 5000 8 30/6 Sold 7000 c) Prepare a table showing the value and quantity of the inventory as at 30 June using the First In First Out method d) Prepare a table showing the value and quantity of the inventory as at 30 June using the Average Cost method

Megadeth Sdn Bhd has the following information regarding the purchase and issue of inventory recorded in the stock card for the month of June 2020. Date Details Kgs Unit Price $ 1/6 Balance 1000 5 3/6 Bought 4000 6 7/6 Sold 3000 12/6 Bought 5000 7 20/6 Sold 3000 22/6 Bought 5000 8 30/6 Sold 7000 c) Prepare a table showing the value and quantity of the inventory as at 30 June using the First In First Out method d) Prepare a table showing the value and quantity of the inventory as at 30 June using the Average Cost method

Intermediate Accounting: Reporting And Analysis

3rd Edition

ISBN:9781337788281

Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Chapter16: Retained Earnings And Earnings Per Share

Section: Chapter Questions

Problem 14P: Gray Company lists the following shareholders equity items on its December 31, 2018, balance sheet:...

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