You are presented with the following information relating to the fi rst week of a month. The transactions in connection with the materials are as follows:

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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1st day 2nd day 3rd day Purchased 40 units @ Rs. 15 per unit Purchased 20 units @ Rs. 16.50 per unit Issued 30 units 4th day Purchased 50 units @ Rs. 17.10 per unit 5th day Issued 20 units 6th day Issued 40 units