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Your client uses a perpetual inventory system has provided you with the following stock movement figures: Date Qty Status Unit Price (excl GST) June...
1.Your client uses a perpetual inventory system has provided you with the following stock movement figures:DateQtyStatusUnit Price (excl GST)June 1+175Opening bal.4.00June 4- 100Sold7.30June 7-50Sold7.55June 10+75Purchased4.80June 12-50Sold8.10June 21+35Purchased4.60June 29-55Sold8.15June 3030Closing bal.a)Complete the following table using FIFO, LIFO and the Weighted Average Method (AVCO) to calculate sales, cost of goods sold and gross margins.FIFOLIFOAVCOSalesSalesSalesCost of SalesCost of SalesCost of SalesGross MarginGross MarginGross Margin
