An inventory record card shows the following details:March170 units in inventory at cost of €10 per unit90 units purchased at a cost of €12 per unit71175 units sold @ €502225 units purchased at a cost of €16 per unit2840 units sold @ €50Required:1. Calculate the value of inventory at 31st March using the FIFO, LIFOand AVCO methods (Perpetual system).2. Calculate the Gross Profit under FIFO, LIFO and AVCO.(20 marks)(10 marks)

The objective of the question is to calculate the value of inventory at the end of March and the…

Answered: An inventory record card shows the…

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Illustrate the procedure used to convert the units into equivalent annual units?
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Question 88 M Full explain this question and text typing work only thanks
Please write all your steps regarding each calculation. Also, refer to the formula sheet; if any formula is used, please label it. Thankyou.
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