Question 4: Hamid Software reported the following:
Beginning Inventory
July 1
250 units @ BD 12
BD 3,000
Purchases:
July 3
125 units @ BD 11
BD 1,375
July 10
342 units @ BD 10
BD 3,420
July 25
400 units @ BD 12
BD 4,800
July 30
100 units @ BD 10
BD 1,000
Sales
July 4
150 units
July 13
230 units
400 units
Instructions:
Determine the COGS and ending inventory cost at July 31 using the assumtions (a) FIFO (4 marks) and (b) average-cost (4 marks)
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