C. Establish the value of each flour consumption taking place during the month, the value of the monthly fi consumption and the value of the closing flour inventory by applying the LIFO formula in the month of January. Cit Exits Inventory No. Date Quantity Value Quantity Cost Value Quantity Value Entries Cost per unit 3 per unit 6 0 1 2 5 8 9 4= 2x 3 7=5x 6 1. 01.01.N Initial inventory 07.01 N 3. 09.01 N 4. 12.01.N 5. 17.01.N 6. 20.01 N 123 2.
C. Establish the value of each flour consumption taking place during the month, the value of the monthly fi consumption and the value of the closing flour inventory by applying the LIFO formula in the month of January. Cit Exits Inventory No. Date Quantity Value Quantity Cost Value Quantity Value Entries Cost per unit 3 per unit 6 0 1 2 5 8 9 4= 2x 3 7=5x 6 1. 01.01.N Initial inventory 07.01 N 3. 09.01 N 4. 12.01.N 5. 17.01.N 6. 20.01 N 123 2.
Chapter1: Financial Statements And Business Decisions
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