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Question 8 The following table is a list of inventory transactions that occurred in July...

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Question 8 The following table is a list of inventory transactions that occurred in July 2021 for Black Night Inc. (BNI): Selling Price 9.00 Date June 1 June 3 June 9 June 11 June 16 June 18 June 22 June 26 June 28 June 30 Opening inventory Purchase Purchase Sale Purchase Sale Purchase Purchase Sale Purchase Quantity Cost 2,000 6.40 12.000 6.30 3,000 6.50 -6,000 2,000 6,70 -11,000 4,000 6.65 5,000 6.70 -7,500 1,500 6.75 9.10 9.25 Required (20 marks) "Note: show your calculations for both parts of the question: a) Assuming that Nl uses a periodic inventory system and the weighted average cost formula, calculate the ending balance of inventory (both the number of units and cost). b) Assuming that BNI uses a perpetual inventory system and the moving average cost formula, calculate the ending balance of inventory (both the number of units and cost)

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