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Plz answer this question The following selected transactions relate to MSN Company: - On...

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Accounting

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The following selected transactions relate to MSN Company: - On 10/10/2016, MSN Company writes off as uncollectible 8,000 SAR of accounts receivable. - On 30/11/2016, MSN Company estimated bad debt percentage is 1% of credit sales whose total amount is 1,000,000 SAR. - On 10/12/2016, one of the accounts receivables pays the 8,000 SAR which MSN Company had written off on 10/10/2016 Instruction Record the appropriate entries in the Journal. Inventories On 30/04/2016, ABC Company has the following inventory, purchases, and sales data. Inventory 01/04/2016 400 units @ 20.00 SAR Purchases 05/04/2016 1000 units @ 22.50 SAR 10/04/2016 800 units @ 23.75 SAR 20/04/2016 600 units @ 25.00 SAR Sales 25/04/2016 1000 units 29/04/2016 800 units The physical inventory count on 30/04/2016 shows 1000 units on hand. Instruction Under a periodic inventory system, determine the cost of inventory on hand on 30/04/2016 and the cost of goods sold for the month of April under a) FIFO b) Average-cost

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