Draw up trading accounts using each of the three methods from the details in question 29.3A.

Data from question 29.3:

From the following figures calculate the closing stock-in-trade that would be shown using 

(i) FIFO, 

(ii) LIFO, 

(iii) AVCO methods on a perpetual inventory basis.

Transcribed Image Text:

January April October Bought 120 at £16 each 80 at £18 each 150 at £19 each June November Sold 125 at £22 each 210 at £25 each