Make a system for recording the cost of raw materials using the complete Periodic method. Known transactions at the company PT. Wahid for theDecember 2019 period as follows:1. Initial inventory 10,000kg @ IDR 10,0005. Purchase 5,000kg @ IDR 11,0006. Usage 9000kg10. Purchase 1000kg @IDR 12,00011. Usage 2000kg12. Usage 1000kg20. Purchase 5,000kg @ Rp 12,00025. Usage 500kgSpecial Remarks:• Materials used on December 6, 2019, came from initialinventory of 6,000kg and purchases on December 5, 2019of 3,000kg• Usage on December 11, 2019, comes from initial inventoryof 1000kg• Usage on December 12, 2019, came from the purchase ofraw materials on December 10, 2019 as much as 1000kg• Materials used on December 25, 2019, came frombeginning inventoryRequested:1. Make a system for recording the cost of raw materialsusing the complete Perpetual and Periodic method.

In the periodic method, the inventory is valued as per the buying rate of each unit of inventory. it…

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Business

Accounting

Make a system for recording the cost of raw materials using the complete Periodic method.

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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Question

Make a system for recording the cost of raw materials using the complete Periodic method.

Known transactions at the company PT. Wahid for the
December 2019 period as follows:
1. Initial inventory 10,000kg @ IDR 10,000
5. Purchase 5,000kg @ IDR 11,000
6. Usage 9000kg
10. Purchase 1000kg @IDR 12,000
11. Usage 2000kg
12. Usage 1000kg
20. Purchase 5,000kg @ Rp 12,000
25. Usage 500kg
Special Remarks:
• Materials used on December 6, 2019, came from initial
inventory of 6,000kg and purchases on December 5, 2019
of 3,000kg
• Usage on December 11, 2019, comes from initial inventory
of 1000kg
• Usage on December 12, 2019, came from the purchase of
raw materials on December 10, 2019 as much as 1000kg
• Materials used on December 25, 2019, came from
beginning inventory
Requested:
1. Make a system for recording the cost of raw materials
using the complete Perpetual and Periodic method.

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