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WorksheetsQUIZ 5 : TOPIC 8 [ACCOUNTING FOR INVENTORIES]
Total questions: 15
Worksheet time: 29mins
Find the ending inventory units when the company is using periodic inventory system.
(a)
Find the ending inventory cost when the company is using periodic inventory system and FIFO method.
RM256
RM264
RM272
RM280
RM288
Find the ending inventory cost when the company is using perpetual inventory system and FIFO method.
RM256
RM264
RM272
RM280
RM288
Find the cost of goods sold for the transaction on June, 21 when the company is using perpetual inventory system and FIFO method.
RM1,248
RM1,236
RM1,254
RM1,216
Find the ending inventory unit as at June, 21 when the company is using periodic inventory system.
(a)
Find the ending inventory costs as at June, 21 when the company is using periodic inventory system and FIFO method.
(a)
Find the average costs for the inventory as at June, 16 when the company is using perpetual inventory system and moving-average method.
RM32
RM32.60
RM32.64
RM32.65
Find the average costs per unit when the company is using periodic inventory system and weighted-average method.
RM32
RM33
RM33.14
RM33.15
RM34
If Ensu Magic Shop has 8,000 units on hand at December, 31, the costs of ending inventory under FIFO method is :
RM88,000
RM96,000
RM101,000
RM104,000
If Ensu Magic Shop has 8,000 units on hand at December, 31, the costs of ending inventory under Weighted- Average method is :
RM96,076.92
RM96,040
RM96,000
RM95,040
If Ensu Magic Shop has 8,000 units on hand at December, 31, and a selling price per unit is RM20, calculate the gross profit when the company is using FIFO method :
RM139,000
RM147,000
RM155,000
RM152,000
If Ensu Magic Shop has 8,000 units on hand at December, 31, and a selling price per unit is RM20, calculate the costs of good sold when the company is using FIFO method :
RM221,000
RM213,000
RM208,000
RM205,000
If Ensu Magic Shop has 8,000 units on hand at December, 31, how many units are sold :
(a)
If Ensu Magic Shop has 9,000 units on hand at December, 31, and a selling price per unit is RM22, calculate the total sales :
RM198,000
RM340,000
RM374,000
RM396,000
If Ensu Magic Shop sold 13,000 units on May, 16, calculate the cost of goods sold when the company is using FIFO method :
RM143,000
RM148,000
RM151,000
RM156,000
