REVISION 3 : TOPIC 8 [ACCOUNTING FOR INVENTORIES]

How many units were on hand on 31 December 2019 :

• 12 units

• 30 units

• 18 units

• 15 units

Assume that the company is using periodic inventory system and FIFO method, what is the ending inventory costs?

• RM216

• RM288

• RM312

• RM368

Assume that the company is using periodic inventory system and Weighted Average method, what is the ending inventory costs?

• RM224.50

• RM257.40

• RM231.80

• RM257.35

What is the cost of goods sold if the periodic inventory system and FIFO method is used ?

• RM2,071

• RM2,101.65

• RM2,101.60

• RM2,143

What is the cost of goods sold if the periodic inventory system and Weighted Average method is used ?

• RM2,071

• RM2,101.65

• RM2,101.60

• RM2,143

Assuming the periodic inventory system and Weighted Average method is used, what is the gross profit?

• RM869

• RM838.40

• RM838.65

• RM797

Assuming the periodic inventory system and FIFO method is used, what is the gross profit?

• RM869

• RM838.40

• RM838.65

• RM797

What is the ending inventory in units as at 11 October 2020?

• 27

• 14

• 15

What is the ending inventory in units as at 18 October 2020?

• 27

• 14

• 15

What is the ending inventory in units as at 31 October 2020?

• 27

• 14

• 15