FNS40217 Certificate IV In Accounting And Bookkeeping - Assessment Activities Tasks

Question 5

POI Pty. Ltd. purchases comic books from publishers and resells them to customers. The company has a perpetual inventory system and assigns the cost of goods sold on a FIFO basis.

The company has the following records for the financial year 2016/17:

Required:
Read the pdf document titled “Hints when using Excel” and use the Excel spreadsheet titled “POI Pty Ltd Stock Ledger Card Template” (both of which can be found in the LMS), to calculate the following:

You are required to upload your completed the Excel Spreadsheet titled “POI Pty Ltd Stock Ledger Card Template” when you upload this assignment.

1. Calculate: (refer to your completed Excel spreadsheet).
2. Calculate: (refer to your completed Excel spreadsheet).
3. Calculate: the inventory turnover ratio.