QUESTION & 6 The following are estimated the estimated sales of a company for eight month endin Navember 30O.2020 Estimated Sales (Units) Month 12,000 April 13,000 May 9,000 June 8,000 July 10,000 August 12,000 September October 14,000 November 12,000 As a matter of policy, the company maintains the closing balance of finished goods and raw materials as follows Inventory Items Finished goods Ending Balance 50% of estimated sales of next month Raw materials Estimated consumption for next month Every unit of production requires 2 kgs of raw materials costing Br, 5 per kg Prepare: Production budget in (units) and raw material budget in (units and cost) of the company for the half year ending September 30,2020

Problem 1 Perpetual Inventory: Shortage, Entries. Canada Pipe Company uses a perpetual inventory system. The items on hand are inventoried on a rotation basis throughout the year so that all items are checked twice each year. At the end of the year, the following data relating to goods on hand are available: From Perpetual Inventory Units From Physical Count (units) 390 Product Unit Cost P12 A.. 450 B.. 1,500 2,000 8,000 13,000 5 1,520 1,950 7,980 13,100 ...... D....... E. . 426

Weighted Average Cost Method with Perpetual Inventory The beginning inventory for Midnight Supplies and data on purchases and sales for a three-month period are as follows: Date   Transaction Numberof Units Per Unit Total Jan. 1   Inventory 7,500   $79.00   $592,500   10   Purchase 22,500   89.00   2,002,500   28   Sale 11,250   158.00   1,777,500   30   Sale 3,750   158.00   592,500   Feb. 5   Sale 1,500   158.00   237,000   10   Purchase 54,000   91.50   4,941,000   16   Sale 27,000   168.00   4,536,000   28   Sale 25,500   168.00   4,284,000   Mar. 5   Purchase 45,000   93.50   4,207,500   14   Sale 30,000   168.00   5,040,000   25   Purchase 7,500   94.00   705,000   30   Sale 26,250   168.00   4,410,000   Required: 1.  Record the inventory, purchases, and cost of goods sold data in a perpetual inventory record similar to the one illustrated in Exhibit 5, using the weighted average cost method. Round unit cost to two decimal places, if necessary. Round…

Required: 1. Compute estimated ending inventory and cost of goods sold for March applying the conventional retail method. Note: Round ratio calculation to 2 decimal places (i.e., 0.1234 should be entered as 12.34%.). Enter amounts to be deducted with a minus sign. Beginning inventory Purchases Freight-in Purchase returns Net markups Net markdowns Goods available for sale Cost-to-retail percentage (conventional retail method) Normal breakage Net sales: Sales Employee discounts Estimated ending inventory at retail Estimated ending inventory at cost Estimated cost of goods sold $ Cost 54,000 $ 221,000 18,358 293,358 $ Retail 74,000 414,000 7,200 495,200 495,200 495,200 Cost-to-Retail Ratio %