Question 6 Smart Designs' inventory (for one item) activity for April is shown below. Smart Designs use a perpetual inve

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Question 6 Smart Designs Inventory For One Item Activity For April Is Shown Below Smart Designs Use A Perpetual Inve 1 (87.06 KiB) Viewed 36 times

Question 6 Smart Designs' inventory (for one item) activity for April is shown below. Smart Designs use a perpetual inventory system: Date Transaction Units Unit cost 1 April Beginning inventory 12 $37 7 April Purchase 45 $32 9 April Sale 35 14 April Purchase 52 $38 30 April Sale 25 Required a) Calculate the ending inventory and cost of each sale under the FIFO method. [5 marks] b) Calculate the ending inventory and cost of each sale under the weighted average method. [5 marks] [Total for Question 6 = 10 marks]