QUESTION 3 Jasson Berhad reports the following information for the month of Febr

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QUESTION 3 Jasson Berhad reports the following information for the month of February 2016. Unit Cost or Selling Price 34 36 45 37 50 39 50 Date Description Units 70 110 100 120 60 70 110 1 Beginning inventory 9 Purchase 11 Sales 17 Purchase 22 Sale:s 25 Purchase 29 Sale:s Required: a) Calculate the ending inventory, cost of goods sold and gross profit under perpetual inventory system using FIFO method. (10 marks) a) Calculate the ending inventory, cost of goods sold and gross profit under periodic inventory system using LIFO method. (11 marks)

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QUESTION 3 Jasson Berhad reports the following information for the month of Febr

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