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WorksheetsREVISION 3 : TOPIC 8 [ACCOUNTING FOR INVENTORIES]
Total questions: 20
Worksheet time: 16mins
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
Assuming that the company will updated the inventory every time there is a movement in their inventory, calculate the cost of goods sold for the transaction on 11 October 2020, using FIFO method?
RM57
RM63.50
RM70
RM63.56
Assuming that the company will updated the inventory every time there is a movement in their inventory, calculate the cost of goods sold for the transaction on 11 October 2020, using weighted average method?
RM52
RM63.50
RM70
RM63.56
Assuming that the company will updated the inventory every time there is a movement in their inventory, calculate the ending inventory cost as at 11 October 2020, using weighted average method?
RM75
RM63.50
RM63.44
RM63.56
Assuming that the company will updated the inventory every time there is a movement in their inventory, calculate the ending inventory cost as at 11 October 2020, using FIFO method?
RM57
RM56
RM67.50
RM70
Assuming that the company will updated the inventory every time there is a movement in their inventory, calculate the ending inventory cost as at 18 October 2020, using FIFO method?
RM58.50
RM128.50
RM70
RM138.50
Assuming that the company will updated the inventory every time there is a movement in their inventory, calculate the cost of goods sold for the transaction on 26 October 2020, using FIFO method?
RM54
RM68.50
RM60
RM67.50
Assuming that the company will updated the inventory every time there is a movement in their inventory, calculate the ending inventory cost as at 26 October 2020, using FIFO method?
RM54
RM68.50
RM60
RM67.50
Assuming that the company will updated the inventory every time there is a movement in their inventory, calculate the cost of goods sold for the month of ended 31 October 2020, using FIFO method?
RM57
RM60
RM117
RM127
Assuming that the company will updated the inventory every time there is a movement in their inventory, calculate the cost of goods purchased for the transaction on 9 October 2020.
(a)
Refer to the information given, calculate the total sales for the month of October 2020.
(a)
