Define accounting equation and give numerical examples for transactions covering all its components namely assets, liabilities, expenses, revenues, stock capital and dividends and represent those transactions on the accounting  

Ibrahim has a sole proprietorship working in goods merchandising and he needs to choose an inventory costing method. 

Being an accountant, list methods Ibrahim can use and explain to him advantages and disadvantages of each method supported by numerical examples.

Demonstrate a critical understanding of the underlying principles of hematological systems.