Question 3 Marathon Goods Ltd is a wholesale distribution firm. The following information...
70.2K
Verified Solution
Link Copied!
Question
Accounting
Question Marathon Goods Ltd is a wholesale distribution firm. The following information relates to the movement in stores of its key productXK Sales of units @ per item are recorded for the month. There is an opening stock of units, valued at at March Required: a Calculate the gross profit for the month of March using each of the following methods of inventory valuation: I. FIFO marks II LIFO marks III. Weighted Average marks b Which inventory stock valuation is most relevant for decision making purposes? Explain your answer. marks c XYZ Ltd a pen manufacturer, assembles monthly data for the first eight months of production of its new deluxe pen. The lowest production occurred in February: pens for a total cost of August saw the highest production: pens costing Required: Use this information to predict the costs for December's production quota of pens. marks Total marks 
Question
Marathon Goods Ltd is a wholesale distribution firm.
The following information relates to the movement in stores of its key productXK
Sales of units @ per item are recorded for the month.
There is an opening stock of units, valued at at March
Required:
a Calculate the gross profit for the month of March using each of the following
methods of inventory valuation:
I. FIFO
marks
II LIFO
marks
III. Weighted Average
marks
b Which inventory stock valuation is most relevant for decision making purposes?
Explain your answer.
marks
c XYZ Ltd a pen manufacturer, assembles monthly data for the first eight months of
production of its new deluxe pen.
The lowest production occurred in February: pens for a total cost of
August saw the highest production: pens costing
Required:
Use this information to predict the costs for December's production quota of
pens.
marks
Total marks
Get Answers to Unlimited Questions
Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!
Membership Benefits:
- Unlimited Question Access with detailed Answers
- Zin AI - 3 Million Words
- 10 Dall-E 3 Images
- 20 Plot Generations
- Conversation with Dialogue Memory
- No Ads, Ever!
- Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Other questions asked by students
StudyZin's Question Purchase
1 Answer
$0.99
(Save $1 )
One time Pay
- No Ads
- Answer to 1 Question
- Get free Zin AI - 50 Thousand Words per Month
Best
Unlimited
$4.99*
(Save $5 )
Billed Monthly
- No Ads
- Answers to Unlimited Questions
- Get free Zin AI - 3 Million Words per Month
*First month only
Free
$0
- Get this answer for free!
- Sign up now to unlock the answer instantly
You can see the logs in the Dashboard.