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6. Sunrise Holding began January with 6,000 units of its principal product. The cost of each unit is RM8. Inventory transactions for the month of January are as follows: Purchases Date of Purchase Units January 10 5,000 January 18 6,000 Totals 11,000 *Includes purchase price and cost of freight. Sales Unit Cost* RM 9 10 Date of Sale January 5 January 12 January 20 Total 8,000 units were on hand at the end of the month. Total Cost RM 45,000 60,000 RM 105,000 Units 3,000 2,000 4,000 9,000 Required: Determine the ending inventory and COGS using periodic and perpetual system using FIFO and average cost.

6. Sunrise Holding began January with 6,000 units of its principal product. The cost of each unit is RM8. Inventory transactions for the month of January are as follows: Purchases Date of Purchase Units January 10 5,000 January 18 6,000 Totals 11,000 *Includes purchase price and cost of freight. Sales Unit Cost* RM 9 10 Date of Sale January 5 January 12 January 20 Total 8,000 units were on hand at the end of the month. Total Cost RM 45,000 60,000 RM 105,000 Units 3,000 2,000 4,000 9,000 Required: Determine the ending inventory and COGS using periodic and perpetual system using FIFO and average cost.

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6. Sunrise Holding began January with 6,000 units of its principal product. The cost of each unit is RM8. Inventory transactions for the month of January are as follows: Date of Purchase January 10 January 18 Totals Purchases Units 5,000 6,000 10 11,000 Unit Cost* RM 9 *Includes purchase price and cost of freight. Sales Date of Sale January 5 January 12 January 20 Total 8,000 units were on hand at the end of the month. Total Cost RM 45,000 60,000 RM 105,000 Units 3,000 2,000 4,000 9,000 Required: Determine the ending inventory and COGS using periodic and perpetual system using FIFO and average cost.
Transcribed Image Text:6. Sunrise Holding began January with 6,000 units of its principal product. The cost of each unit is RM8. Inventory transactions for the month of January are as follows: Date of Purchase January 10 January 18 Totals Purchases Units 5,000 6,000 10 11,000 Unit Cost* RM 9 *Includes purchase price and cost of freight. Sales Date of Sale January 5 January 12 January 20 Total 8,000 units were on hand at the end of the month. Total Cost RM 45,000 60,000 RM 105,000 Units 3,000 2,000 4,000 9,000 Required: Determine the ending inventory and COGS using periodic and perpetual system using FIFO and average cost.
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