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Analysis/Financial Reporting

Pls refer to attached file.


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A. Periodic inventory system is a system in which the cost of good sold is computed periodically by relying solely on physical counts without keeping day-to-day records of units sold or on hand: Beginning inventory plus purchases less ending inventory measures all inventory that has flowed out
<br>Total Sale is 24000 units, please refer the EXCEL file for calculation.
<br>1. The first-in, first-out (FIFO) method assumes that items sold are those that were acquired first. Ending inventory consists of the most recently acquired items.
<br>So the goods sold are
<br>24000 units = 5000 units of ...