5 CASE NO#2- PERIODIC INVENTORY SYSTEM - INVENTORY VALUATION METHODSPardo, a chain of "general merchandise stores and the largest of its type in UAE. The company follows Perpetual Inventory System. The companyfurnishes the following information for the month of January 2022:DateDescriptionQuantityUnit cost(OMR)January 1Opening Inventory1,70015January 6Purchase4,70016January 9Sales1,400January 111Purchase3,50016January 12Purchase4,70017JanuarySales2,500January 20Purchase1,80018January 22Purchase1,50019January 24Sales700You are required to compute:a) The amount of Cost of goods sold and Ending Inventory Value based on Weighted Average Method using periodic inventory system.b) Prepare the Journal entries based on Weighted Average Method using periodic inventory system.جامع ل

Inventory is the stock of raw materials and finished goods held by a firm at a point of time.…

Pardo, a chain of "general merchandise stores and the largest of its type in UAE. The company follows Perpetual Inventory System. The company furnishes the following information for the month of January 2022: Date Description Quantity Unit cost (OMR) January 1 Opening Inventory 1,700 15 January 6 Purchase 4,700 16 January 9 Sales 1,400 January 11 Purchase 3,500 16 January 12 Purchase 4,700 17 January 14 Sales 2,500 January 20 Purchase 1,800 18 January 22 Purchase 1,500 19 January 24 Sales 700 You are required to compute: a) The amount of Cost of goods sold and Ending Inventory Value based on Weighted Average Method using periodic inventory system. b) Prepare the Journal entries based on Weighted Average Method using periodic inventory system. جامع ل