[jonie90]

@ahmedsalim563 : thank you so much… what a relieve! i have been worry about it all night…

[jonie90]

i attempted 5 question but i forgot to mark on question on the first page of the booklet, is it okay?

[jonie90]

thank you so so much

[jonie90]

you’re welcome

[jonie90]

open 50 @$40
bought 100 @$45

Sold 80 : 50 @$40
30 @$45

remain : 70 @$45
bought 50 @$50

sold 60 @ $45

remain 10 @$45 and 50 @$50 ==> total closing inventory = $2950 as the ans

[jonie90]

B is correct!!
Because the bad debt w/o during the year so it is not affect to Allowance c/f, otherwise if you see the bad debt decide w/o and to adjust allowance for receivables, you must take out bad debt in receivables.

[jonie90]

you don’t have opening inventory, how to calculate closing inventory. what method using? FIFO or AVC?

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