Please answer all the requirement , I do not have the next posting option, so please answer all the requirement I will give good rating, please Question 1Tropical Mill Flour (M) Sdn. Bhd. produces a single type of Premium flour for its both wholesaleand retail customers in Klang Valley. There was an opening inventory (900 kg at RM2 each) broughtforward from December 2021 During January 2022, the company's operations had the followingtransactions:Transferred from production350 kg at RM2.10 eachDateIssued out to customerJan 2Jan 3980 kg @RM6Jan 9480 kg at RM2.20 each630 kg at RM2.30 eachJan 13Jan 18Jan 251,050 kg@RM8390 kg at RM2.40 eachAdditional information:The operating expenses for the month amounted to RM9,000.Required:(a)Using the following methods calculate the cost of goods sold as at 31 January 2022.(Round your answers to 2 decimal points. Eg: 3.127 =3.13)(i)First in, First out method (FIFO)(ii)Moving Average method (MAVG)(iii) Last in, First out method (LIFO)(b)Prepare a profit and loss statement (in columnar format) showing Tropical Mill's net profitor loss for the month ended 31 January 2022.Note: Show all your relevant working.

FIFO, moving average and LIFO are the three prominent inventory valuation frequently used. FIFO…

Tropical Mill Flour (M) Sdn. Bhd. produces a single type of Premium flour for its both wholesale and retail customers in Klang Valley. There was an opening inventory (900 kg at RM2 each) brought forward from December 2021 During January 2022, the company's operations had the following transactions: Transferred from production 350 kg at RM2.10 each | Issued out to customer Date Jan 2 Jan 3 980 kg @RM6 Jan 9 Jan 13 480 kg at RM2.20 each 630 kg at RM2.30 each Jan 18 1,050 kg@RM8 Jan 25 390 kg at RM2.40 each Additional information: The operating expenses for the month amounted to RM9,000. Required: (a) Using the following methods calculate the cost of goods sold as at 31 January 2022. (Round your answers to 2 decimal points. Eg: 3.127 =3.13) (i) First in, First out method (FIFO) (ii) Moving Average method (MAVG) (iii) Last in, First out method (LIFO) (b) Prepare a profit and loss statement (in columnar format) showing Tropical Mill's net profit or loss for the month ended 31 January 2022.

Tropical Mill Flour (M) Sdn. Bhd. produces a single type of Premium flour for its both wholesale and retail customers in Klang Valley. There was an opening inventory (900 kg at RM2 each) brought forward from December 2021 During January 2022, the company's operations had the following transactions: Transferred from production 350 kg at RM2.10 each | Issued out to customer Date Jan 2 Jan 3 980 kg @RM6 Jan 9 Jan 13 480 kg at RM2.20 each 630 kg at RM2.30 each Jan 18 1,050 kg@RM8 Jan 25 390 kg at RM2.40 each Additional information: The operating expenses for the month amounted to RM9,000. Required: (a) Using the following methods calculate the cost of goods sold as at 31 January 2022. (Round your answers to 2 decimal points. Eg: 3.127 =3.13) (i) First in, First out method (FIFO) (ii) Moving Average method (MAVG) (iii) Last in, First out method (LIFO) (b) Prepare a profit and loss statement (in columnar format) showing Tropical Mill's net profit or loss for the month ended 31 January 2022.

Corporate Financial Accounting

14th Edition

ISBN:9781305653535

Author:Carl Warren, James M. Reeve, Jonathan Duchac

Publisher:Carl Warren, James M. Reeve, Jonathan Duchac

Chapter6: Inventories

Section: Chapter Questions

Problem 6.3ADM: Monster Beverage and Brown-Forman: Inventory turnover 7 and number of days' sales in inventory...

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