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Following transactions occurred in Delta Company Date Activities Unit Sold Units purchases/ acquired at cost...

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Accounting

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Following transactions occurred in Delta Company Date Activities Unit Sold Units purchases/ acquired at cost price 20 units 12 30 units ( 13 Jan 1 Jan 10 Jan 22 Beginning inventory Purchases Sales 25 units 20 Required: a Calculate closing inventory on 31 January using FIFO b. Calculate cost of oods sold on sint FIFO. Differentiate between accrual basis and cash basis of accounting and determine which method is in complies with GAAT For the toolbar, press ALT F10 (PC) or ALTHEN F10 (Mac 1 5 Paragraph Anal 101 E 2 I. X 6FT. 3 x X, 1 1 w EE (1)

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