Megadeth Sdn Bhd has the following information regarding the purchase and issue of inventory recorded in the stock card for the month of June 2020. Date Details Kgs Unit Price $ 1/6 Balance 1000 5 3/6 Bought 4000 6 7/6 Sold 3000 12/6 Bought 5000 7 20/6 Sold 3000 22/6 Bought 5000 8 30/6 Sold 7000 c) Prepare a table showing the value and quantity of the inventory as at 30 June using the First In First Out method d) Prepare a table showing the value and quantity of the inventory as at 30 June using the Average Cost method
Megadeth Sdn Bhd has the following information regarding the purchase and issue of inventory recorded in the stock card for the month of June 2020. Date Details Kgs Unit Price $ 1/6 Balance 1000 5 3/6 Bought 4000 6 7/6 Sold 3000 12/6 Bought 5000 7 20/6 Sold 3000 22/6 Bought 5000 8 30/6 Sold 7000 c) Prepare a table showing the value and quantity of the inventory as at 30 June using the First In First Out method d) Prepare a table showing the value and quantity of the inventory as at 30 June using the Average Cost method
Intermediate Accounting: Reporting And Analysis
3rd Edition
ISBN:9781337788281
Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Chapter16: Retained Earnings And Earnings Per Share
Section: Chapter Questions
Problem 14P: Gray Company lists the following shareholders equity items on its December 31, 2018, balance sheet:...
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Question
![Megadeth Sdn Bhd has the following information regarding the purchase and issue of
inventory recorded in the stock card for the month of June 2020.
Date
Details
Kgs
Unit Price $
1/6
Balance
1000
5
3/6
Bought
4000
6
7/6
Sold
3000
12/6
Bought
5000
7
20/6
Sold
3000
22/6
Bought
5000
8
30/6
Sold
7000
c) Prepare a table showing the value and quantity of the inventory as at 30 June using
the First In First Out method
d) Prepare a table showing the value and quantity of the inventory as at 30 June using
the Average Cost method](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Ff27079a9-072d-4adf-8809-364e54b00560%2F31a689f5-5c9f-48fd-8766-c9da2001e032%2Fyz42ndk_processed.png&w=3840&q=75)
Transcribed Image Text:Megadeth Sdn Bhd has the following information regarding the purchase and issue of
inventory recorded in the stock card for the month of June 2020.
Date
Details
Kgs
Unit Price $
1/6
Balance
1000
5
3/6
Bought
4000
6
7/6
Sold
3000
12/6
Bought
5000
7
20/6
Sold
3000
22/6
Bought
5000
8
30/6
Sold
7000
c) Prepare a table showing the value and quantity of the inventory as at 30 June using
the First In First Out method
d) Prepare a table showing the value and quantity of the inventory as at 30 June using
the Average Cost method
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