MYD company’s record of transactions concerning part VF5 for the month of September was as follow (dalam Rp. 000.000) :PurchasesSalesSept 1Balance on hand600@Rp. 6Sept 3500@Rp. 10Sept 4 1.500@Rp. 6.08Sept 91.300@Rp. 10Sept 8 800@Rp. 6.4Sept 11600@Rp. 11Sept 13 1.200@Rp. 6.5Sept 231.200@Rp. 11Sept 21 700@Rp. 6.6Sept 27900@Rp. 12Sept 29 500@Rp. 6.79 Instruction:Assuming that periodic inventory records are kept, compute the inventory at Sept 30 using: (i) First-in, First-out (FIFO) (ii) Average-costAssuming that perpetual inventory records are kept, compute the inventory at Sept 30 using: (i) First-in, First-out (FIFO) (ii) Average-costIn an inflationary record, which inventory method will show the highest net income?

Name: MYD company’s record of transactions concerning part VF5 for the month
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Description: MYD company’s record of transactions concerning part VF5 for the month of September was as follow (dalam Rp. 000.000) :PurchasesSalesSept 1Balance on hand600@Rp. 6Sept 3500@Rp. 10Sept 4 1.500@Rp. 6.08Sept 91.300@Rp. 10Sept 8 800@Rp. 6.4Sept 11600@Rp.

Weighted Average method is a method of computing inventory wherein weighted average is used to…

Answered: MYD company’s record of transactions…

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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MYD company’s record of transactions concerning part VF5 for the month of September was as follow (dalam Rp. 000.000) :

Purchases	Sales
Sept 1	Balance on hand	600@Rp. 6	Sept 3	500@Rp. 10
Sept 4		1.500@Rp. 6.08	Sept 9	1.300@Rp. 10
Sept 8		800@Rp. 6.4	Sept 11	600@Rp. 11
Sept 13		1.200@Rp. 6.5	Sept 23	1.200@Rp. 11
Sept 21		700@Rp. 6.6	Sept 27	900@Rp. 12
Sept 29		500@Rp. 6.79

Instruction:

Assuming that periodic inventory records are kept, compute the inventory at Sept 30 using:

(i) First-in, First-out (FIFO)

(ii) Average-cost

Assuming that perpetual inventory records are kept, compute the inventory at Sept 30 using:

(i) First-in, First-out (FIFO)

(ii) Average-cost

In an inflationary record, which inventory method will show the highest net income?

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