1-12-1993 80kg @ Rs. 5 per kg 10-12-1993 80 kg @ Rs. 6 per kg 2-12-1993 60 kg 11-12-1993 60 kg Receipts Issued What is the value of 40 units of closing stock under each of the methods? Using the periodic and perpetual accounting system. Rs. Rs. Rs. FIFO LIFO Weighted average price

1-12-1993 80kg @ Rs. 5 per kg 10-12-1993 80 kg @ Rs. 6 per kg 2-12-1993 60 kg 11-12-1993 60 kg Receipts Issued What is the value of 40 units of closing stock under each of the methods? Using the periodic and perpetual accounting system. Rs. Rs. Rs. FIFO LIFO Weighted average price

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Question

1-12-1993 80kg @ Rs. 5 per kg
10-12-1993 80 kg @ Rs. 6 per kg
2-12-1993 60 kg
11-12-1993 60 kg
Receipts
Issued
What is the value of 40 units of closing stock under each of the methods? Using the
periodic and perpetual accounting system.
Rs.
Rs.
Rs.
FIFO
LIFO
Weighted average price

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