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Question 8 From the data given below, write up the account for material no. 1234 using the FIFO and also weighted average methods of pricing issues. 19x1 Sept.1 Sept.18 Sept.30 Oct.12 Oct.31 Nov.4 Nov.19 Stock on hand Issue Receipt Issue Receipt Receipt Issue 100 litres, valuation £100 60 litres 40 litres, cost £1.20 per litre 60 litres 80 litres, cost £1.30 per litre 20 litres, cost £1.50 per litre 70 litres

Question 8 From the data given below, write up the account for material no. 1234 using the FIFO and also weighted average methods of pricing issues. 19x1 Sept.1 Sept.18 Sept.30 Oct.12 Oct.31 Nov.4 Nov.19 Stock on hand Issue Receipt Issue Receipt Receipt Issue 100 litres, valuation £100 60 litres 40 litres, cost £1.20 per litre 60 litres 80 litres, cost £1.30 per litre 20 litres, cost £1.50 per litre 70 litres

FINANCIAL ACCOUNTING
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 8 From the data given below, write up the account for material no. 1234 using the FIFO and also weighted average methods of pricing issues. 19x1 Sept.1 Sept.18 Sept.30 Oct.12 Oct.31 Nov.4 Nov.19 Stock on hand Issue Receipt Issue Work certified Receipt Receipt Issue 100 litres, valuation £100 60 litres 40 litres, cost £1.20 per litre 60 litres 80 litres, cost £1.30 per litre 20 litres, cost £1.50 per litre 70 litres
Transcribed Image Text:Question 8 From the data given below, write up the account for material no. 1234 using the FIFO and also weighted average methods of pricing issues. 19x1 Sept.1 Sept.18 Sept.30 Oct.12 Oct.31 Nov.4 Nov.19 Stock on hand Issue Receipt Issue Work certified Receipt Receipt Issue 100 litres, valuation £100 60 litres 40 litres, cost £1.20 per litre 60 litres 80 litres, cost £1.30 per litre 20 litres, cost £1.50 per litre 70 litres
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