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@ahmedsalim563 : thank you so much… what a relieve! i have been worry about it all night…
i attempted 5 question but i forgot to mark on question on the first page of the booklet, is it okay?
thank you so so much
you’re welcome
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
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.
you don’t have opening inventory, how to calculate closing inventory. what method using? FIFO or AVC?
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