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    Inventory: Question 1 (20 Marks)

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    nur athirah
    - PCB uses a perpetual inventory system with FIFO to record inventory transactions in April 2017 - The opening inventory was 1,000 units at RM12.50 per unit - Transactions in April included sales on the 5th, 12th, 21st, and 27th and purchases on the 8th and 15th - The question requires calculating the cost of goods sold and ending inventory as of April 30th, preparing a journal entry for the April 5th sale, and calculating ending inventory with periodic weighted average

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    Inventory: Question 1 (20 Marks)

    Uploaded by

    nur athirah
    69 views2 pages
    - PCB uses a perpetual inventory system with FIFO to record inventory transactions in April 2017 - The opening inventory was 1,000 units at RM12.50 per unit - Transactions in April included sales on the 5th, 12th, 21st, and 27th and purchases on the 8th and 15th - The question requires calculating the cost of goods sold and ending inventory as of April 30th, preparing a journal entry for the April 5th sale, and calculating ending inventory with periodic weighted average

    Original Description:

    ACCOUNT MATRIKULASI

    Original Title

    INVENTORY 211020 (1)

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    © © All Rights Reserved

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    - PCB uses a perpetual inventory system with FIFO to record inventory transactions in April 2017 - The opening inventory was 1,000 units at RM12.50 per unit - Transactions in April included sales on the 5th, 12th, 21st, and 27th and purchases on the 8th and 15th - The question requires calculating the cost of goods sold and ending inventory as of April 30th, preparing a journal entry for the April 5th sale, and calculating ending inventory with periodic weighted average

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Download as docx, pdf, or txt
    69 views2 pages

    Inventory: Question 1 (20 Marks)

    Uploaded by

    nur athirah
    - PCB uses a perpetual inventory system with FIFO to record inventory transactions in April 2017 - The opening inventory was 1,000 units at RM12.50 per unit - Transactions in April included sales on the 5th, 12th, 21st, and 27th and purchases on the 8th and 15th - The question requires calculating the cost of goods sold and ending inventory as of April 30th, preparing a journal entry for the April 5th sale, and calculating ending inventory with periodic weighted average

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Download as docx, pdf, or txt
    of 2

    INVENTORY

    QUESTION 1 (20 MARKS)


    Below is the information on inventory of Perniagaan Cahaya Baru (PCB) for April 2017.
    Berikut adalah maklumat berkaitan jualan dan belian inventori bagi Perniagaan Cahaya
    Baru pada bulan April 2017.

    Date Transaction Unit RM per unit


    April 5 Sale 900 17.00
    8 Purchase 800 14.00
    12 Sale 600 18.00
    15 Purchase 900 12.50
    21 Sale 300 17.50
    27 Sale 200 19.00

    PCB uses perpetual inventory system with First In First Out (FIFO) method in calculating the
    cost of the inventory. Opening inventory was 1,000 units at a cost of RM12.50 per unit.
    Perniagaan ini telah merekod inventori menggunakan sistem inventori berterusan dan
    kaedah masuk dahulu keluar dahulu(MDKD). Baki awal inventori adalah 1,000 unit pada
    harga RM 12.50 seunit.

    REQUIRED :
    i. Calculate the cost of goods sold and the cost of ending inventory as at April 30, 2017
    Kirakan kos barang dijual dan kos inventori akhir pada 30 April, 2017.
    (12.5 marks)
    ii. Prepare journal entries to record sale on April 5. (Assume all transactions on cash).
    Sediakan catatan jurnal untuk merekod jualan pada 5 April. ( Andaikan semua
    urusniaga secara tunai)
    (5.5 marks)
    iii. Calculate the cost of ending inventory if PCB uses periodic inventory system with
    weighted average method. ( Round up your answer to the nearest ringgit)
    Kirakan kos inventori akhir sekiranya PCB menggunakan sistem berkala dengan
    kaedah purata wajaran. ( Bundarkan jawapan anda kepada ringgit yang hampir)
    ( 2 marks)
    QUESTION 2

    (A) Record of inventory Charlie Sdn Bhd shows the beginning inventory of 1,000 units at a
    price RM2.50 per unit. Transactions for February 2012 are as follows.

    Date Item Unit Price Per Unit


    (RM)
    Feb 5 Sales 750 4.00
    9 Purchases 5,000 2.50
    12 Sales 4,000 4.00
    16 Purchases 7,500 2.60
    24 Purchases 3,250 2.70
    28 Sales 11,000 4.00

    All transactions are in cash and Charlie Sdn Bhd uses a perpetual inventory system.

    INSTRUCTIONS:
    Calculate the ending inventory and cost of goods sold at 29 February 2012 if weighted
    average method is applied. Round up answer to two decimal places. [7.5
    marks]

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