a. Star Troopers Bhd is a wholesaler that buys and sells toy action figures. The transactions in the last four months of 2020 were recorded as below: C. Month September October November December Units Purchased 300 200 250 100 Unit purchase price RM 8 First-in-first-out (FIFO) b. Last-in-first-out (LIFO) 9 10 11 Units sold 260 180 220 It is the policy of the company to purchase on the tenth day and sell on the last day of each month. All product purchased were kept in a storeroom before sales. 140 Required: Record the above transactions in a store ledger card using each of the following stock valuation methods: Cumulative weighted average cost (CWACO). (Calculate the weighted average cost per unit to 4 decimal places.)

a. Star Troopers Bhd is a wholesaler that buys and sells toy action figures. The transactions in the last four months of 2020 were recorded as below: C. Month September October November December Units Purchased 300 200 250 100 Unit purchase price RM 8 First-in-first-out (FIFO) b. Last-in-first-out (LIFO) 9 10 11 Units sold 260 180 220 It is the policy of the company to purchase on the tenth day and sell on the last day of each month. All product purchased were kept in a storeroom before sales. 140 Required: Record the above transactions in a store ledger card using each of the following stock valuation methods: Cumulative weighted average cost (CWACO). (Calculate the weighted average cost per unit to 4 decimal places.)

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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