Of the 800 units sold during the period, the 300 units said on March 15 were purchased on January 12 at a cost of US $2.00 per unit. The remaining 500 units were purchased on May 5 at a cost of US $2.20 per unit. The cost of goods sold under the specific identification method is therefore US $1.700 [(300 units x $2.00) +500 units ? $2.20)].

According to IAS 1, An entity shall not present any items of income and expense as extraordinary items, either on the face of the income statement or in the notes."

Net cash flow from used by operating activities may be reported indirectly by removing from profit or loss the effects of1) deferrals of past operating cash flows,2) accruals of expected future operating cash flows.3) income or expense items related to financing and investing cash flows, and4) noncash transactions. These adjustments include such items as depreciation, amortization of patents, amortization of bond discount and bond premium gains and losses. changes during the period in trade receivables, changes in inventory, and changes in accounts payable and accrued liabilities. In the reconciliation of profit or loss to net cash from used by) operations, depreciation a noncash expense) is added to profit or loss.

Access should be limited to those whose activities necessitate access to the computer
system. Moreover, the degree of access allowed should be consistent with an individual's responsibilities. Restricting access to particular individuals rather than groups or departments clearly establishes specific accountability. Not everyone in a group will need access or the same degree of access. Thus, passwords assigned to individuals should be required for identification of users by the system. Furthermore, data should be restricted at the field level, not the workstation level. It may be possible to limit access to a workstation, but most workstations are connects -d t. larger mainframe or network databases. Thus, the security at the workstation level only would be insufficient.