You are presented with the following information relating to the first week of a month. The transactions in connection with the materials are as follows:
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1st day Don't use plagiarized sources. Get Your Custom Essay on
calculate the cost of materials under 1 fifo 2 lifo and 3 weighted average method of 617176
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Purchased 40 units @ Rs. 15 per unit |
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2nd day |
Purchased 20 units @ Rs. 16.50 per unit |
|
3rd day |
Issued 30 units |
|
4th day |
Purchased 50 units @ Rs. 17.10 per unit |
|
5th day |
Issued 20 units |
|
6th day |
Issued 40 units |
Calculate the cost of materials under (1) FIFO (2) LIFO and (3) Weighted average method of issue of material and the value of closing stock under the aforesaid materials
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