Ahmad had started selling mobile phones in February 2020. Details of the transactions are as follows: Feb 1 Purchases 3 Sales 5 Purchases 7 Sales 9 Purchases 15 Sales 28 Purchases 10 units at RM91 each 5 units at RM150 each 15 units at RM106 each 5 units at RM160 each 20 units at RM118 each 5 units at RM180 each 25 units at RM125 each

Q: Can you explain in detail how you got the Inventory Remaining(units) and the total Inventory…

A: Inventory valuation refers to the process of assigning a monetary value to the inventory of a…

Q: Inventory and Purpose of Inventory management

A: Accounting: Accounting is a system, or a process of collecting and organizing economic transactions,…

Q: Explain the LIFO retail inventory method.

A: LIFO: Under this inventory method, the units that are purchased last, are sold first. Thus, it…

Q: What is a LIFO inventory pool?

A: Definition: Last-in-First-Out (LIFO): In this method, items purchased recently are sold first. So,…

Q: Define inventory.

A: Inventory: Inventory consist of total of three components: raw material, work-in-process and…

Q: Define inventory costing system.

A: Inventory cost flow assumptions: These are the methods used by the companies to compute the cost…

Q: Under the weighted-average method, the ending inventory is:

A: Under weighted average cost the average cost per unit change after every purchase or sale . and  the…

Q: What is an ABC analysis with regard to inventory?

A: ABC analysis: ABC analysis is an inventory classification technique used as a basic arrangement…

Q: What are the differences between Consignment and vendor managed inventory? Your response should…

A: VENDOR MANAGEMENT INVENTORY                                CONSIGNMENT 1. Here supplier is…

Q: Explain which physical units of goods should be included in inventory.

A: Inventory:   It refers to an accounting term used to describe the goods in various stages in the…

Q: Define beginning inventory and ending inventory

A: The beginning inventory and ending inventory are explained as below,   The Inventory can be defined…

Q: Explain the ABC inventory management system and the just-in-time inventory managementsystem

A: The objective of this question is to understand two different inventory management systems: ABC and…

Q: Describe costing inventory using weighted average. Address the different treatment, if any, that…

A: Weighted average cost method of inventory valuation is one of the 3 methods of accounting inventory.…

Q: Write out the formula for the total costs of carrying and ordering inventory, and then use…

A: The formula for the total costs of carrying and ordering inventory and using the formula to derive…

Q: What is inventory conversion period?

A: Conversion period refers to the length of period at which one asset is converted into another form.…

Q: Explain the four GAAP inventory methods and state which is the most accurate.  Explain which will…

A: Inventory Valuation:   The valuation of merchandise inventory figure depends on the quantity of…

Q: How is Inventory audited?

A: Introduction Inventory audit is an analytical procedure that cross checks the financial records with…

Q: Describe a  Comparison of the Perpetual and Periodic Inventory Systems

A:

Q: Explain how liquidity measures can be influenced by the inventory cost flow assumption used.

A: Inventory Cost Flow Assumptions means the different techniques of measurement of cost of inventory…

Q: Discuss the different types of Inventory system

A: Traditionally the inventory is recorded by manually counting the items in the warehouse and it is…

Q: Give a detailed definition of "inventory', based on IAS2, Inventories. Use suitable examples to…

A: Inventory is defined as the goods and materials held by a business for sale in the ordinary course…

Q: Explain the types of inventory and the differences between a perpetual inventory system and a…

A:

Q: ame three different methe nd costing out inventory.

A: Inventory costing, often known as inventory cost accounting, allows businesses to assign costs to…

Q: Explain Inventory Estimation Techniques.

A: Inventory Estimation Techniques: