# 4 Friends sons show the following transaction show the purchases and sales of merchandise during the year: Jan. 1 Balance on hand, 1,000 Units Rs.12/per unit Jan. 5 Purchase, 1,200 units, Rs.13 /per unit Jan. 8 Sale, 1,500 units Rs.18/per unit Jan 15 Purchase 2,000 units Rs.14/per unit Jan. 18 Sale, 1,800 units, Rs.20/per unit Jan. 25 Purchase, 3,000 units Rs.15/per unit Jan. 26 Sale, 1,200 units, Rs.21/per unit Jan. 30 Purchase, 2,500 units Rs.16/per unit Jan. 31 Sale 2,100 units Rs.22/per unit Required: Compute the cost of ending inventory under the perpetual system on Jan 31, 2011 using the following methods: First In First Out (FIFO) Last In First Out (LIFO) Average method
Q # 4 Friends sons show the following transaction show the purchases and sales of merchandise during the year:
Jan. 1 Balance on hand, 1,000 Units Rs.12/per unit
Jan. 5 Purchase, 1,200 units, Rs.13 /per unit
Jan. 8 Sale, 1,500 units Rs.18/per unit
Jan 15 Purchase 2,000 units Rs.14/per unit
Jan. 18 Sale, 1,800 units, Rs.20/per unit
Jan. 25 Purchase, 3,000 units Rs.15/per unit
Jan. 26 Sale, 1,200 units, Rs.21/per unit
Jan. 30 Purchase, 2,500 units Rs.16/per unit
Jan. 31 Sale 2,100 units Rs.22/per unit
Required: Compute the cost of ending inventory under the perpetual system on Jan 31, 2011 using the following methods:
- First In First Out (FIFO)
- Last In First Out (LIFO)
- Average method
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