3- The following data relates to the inventory of ALI & CO. which uses "Periodic Inventory System" DATE Jdnuary 01. January 13. January 15. January 30. January 31. COST OF GOODS SOLD Rs.233,200. REQUIRED: Assuming the use of (LIFO) Method O Determine the cost of the ending inventory. C Deremine tle anit eost ahotal cost pfthe January 30. purchases. Beg. Inventory Purchases Purchases Purchases UNIT COST @ Rs.0.40 @ Rs.0.42 @ Rs.0.41 @ Rs. ? End. Inventory. @Rs.? UNITS 80,000 200,000 300,000 100,000 120,000 COST Rs.32,000 Rs.84,000 Rs.123,000 Rs. 7 Rs. ?
3- The following data relates to the inventory of ALI & CO. which uses "Periodic Inventory System" DATE Jdnuary 01. January 13. January 15. January 30. January 31. COST OF GOODS SOLD Rs.233,200. REQUIRED: Assuming the use of (LIFO) Method O Determine the cost of the ending inventory. C Deremine tle anit eost ahotal cost pfthe January 30. purchases. Beg. Inventory Purchases Purchases Purchases UNIT COST @ Rs.0.40 @ Rs.0.42 @ Rs.0.41 @ Rs. ? End. Inventory. @Rs.? UNITS 80,000 200,000 300,000 100,000 120,000 COST Rs.32,000 Rs.84,000 Rs.123,000 Rs. 7 Rs. ?
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Question
![3- The following data relates to the inventoiy of ALI & CO. which uses "Periodic
Inventory System"
DATE
Jdnuary 01.
January 13.
January 15.
January 30.
January 31.-
COST OF GOODS SOLD R.s.233,200.
REQUIRED:
Assuming the use of (LIFO) Method
Determine the cost of the ending inventory.
C Deremine te anit cost aud tota! cost pfahe January 30. purchases.
UNIT COST
@ Rs.0.40
@ Rs.0.42
@Rs.0.41
@ Rs. ?
End. Inventory. @Rs. ?
COST
Rs.32,000
Rs.84,000
Rs.123,000
UNITS
Beg. Inventory
Purchases
80,000
200,000
300,000
100,000
120,000
Purchases
Purchases
Rs. ?
Rs. ?](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fd8d146d4-77ab-44ff-a5d2-cc7ddea2660c%2F453492f8-1c67-4111-babd-6731881cfda5%2Fqf21ef6_processed.jpeg&w=3840&q=75)
Transcribed Image Text:3- The following data relates to the inventoiy of ALI & CO. which uses "Periodic
Inventory System"
DATE
Jdnuary 01.
January 13.
January 15.
January 30.
January 31.-
COST OF GOODS SOLD R.s.233,200.
REQUIRED:
Assuming the use of (LIFO) Method
Determine the cost of the ending inventory.
C Deremine te anit cost aud tota! cost pfahe January 30. purchases.
UNIT COST
@ Rs.0.40
@ Rs.0.42
@Rs.0.41
@ Rs. ?
End. Inventory. @Rs. ?
COST
Rs.32,000
Rs.84,000
Rs.123,000
UNITS
Beg. Inventory
Purchases
80,000
200,000
300,000
100,000
120,000
Purchases
Purchases
Rs. ?
Rs. ?
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