1. Prepare the Inventory records DATE 1.01.2021 2.01.2021 4.01.2021 6.01.2021 8.01.2021 10.01.2021 15.01.2021 18.01.2021 PARTICULARS Balance in inventory was 800 bags of rice Purchased 1,000 bags of rice Sold 1,020 bags of rice Purchased 440 bags of rice Purchased 200 bags of rice Sold 840 bags of rice Purchased 500 bags of rice Sold 800 bags of rice Required: Prepare the inventory records using the First-In-First-Out method PRICE PER UNIT OMR 4.100 per bag OMR 4.250 per bag OMR 4.150 per bag OMR 4.050 per bag OMR 4.400 per bag

1. Prepare the Inventory records DATE 1.01.2021 2.01.2021 4.01.2021 6.01.2021 8.01.2021 10.01.2021 15.01.2021 18.01.2021 PARTICULARS Balance in inventory was 800 bags of rice Purchased 1,000 bags of rice Sold 1,020 bags of rice Purchased 440 bags of rice Purchased 200 bags of rice Sold 840 bags of rice Purchased 500 bags of rice Sold 800 bags of rice Required: Prepare the inventory records using the First-In-First-Out method PRICE PER UNIT OMR 4.100 per bag OMR 4.250 per bag OMR 4.150 per bag OMR 4.050 per bag OMR 4.400 per bag

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Description: 1. Prepare the Inventory recordsDATE1.01.20212.01.20214.01.20216.01.20218.01.202110.01.202115.01.202118.01.2021PARTICULARSBalance in inventory was 800 bags of ricePurchased 1,000 bags of riceSold 1,020 bags of ricePurchased 440 bags of ricePurchased

Financial Accounting

14th Edition

ISBN:9781305088436

Author:Carl Warren, Jim Reeve, Jonathan Duchac

Publisher:Carl Warren, Jim Reeve, Jonathan Duchac

Chapter7: Inventories

Section: Chapter Questions

Problem 3PEA: Beginning inventory, purchases, and sales for Item Zebra 9x are as follows: Assuming a perpetual...

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