Opening stock of an item in the godown is 2,000 units costing 22 per unit, during the
Question:
Opening stock of an item in the godown is 2,000 units costing ₹22 per unit, during the year, the following purchase was made:
10,000 units @ ₹25; 6,000 units @ ₹24 ; 9,000 units @ ₹23 During the year, 24,500 units were sold. Find out value of closing inventory under periodic system using LIFO, FIFO, simple average and weighted average method.
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The quantity of closing inventory is equal to opening stock purchase quantity less sales quantity Th...View the full answer
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Somshukla Chakraborty
I have a teaching experience of more than 4 years by now in diverse subjects like History,Geography,Political Science,Sociology,Business Enterprise,Economics,Environmental Management etc.I teach students from classes 9-12 and undergraduate students.I boards I handle are IB,IGCSE, state boards,ICSE, CBSE.I am passionate about teaching.Full satisfaction of the students is my main goal.
I have completed my graduation and master's in history from Jadavpur University Kolkata,India in 2012 and I have completed my B.Ed from the same University in 2013. I have taught in a reputed school of Kolkata (subjects-History,Geography,Civics,Political Science) from 2014-2016.I worked as a guest lecturer of history in a college of Kolkata for 2 years teaching students of 1st ,2nd and 3rd year. I taught Ancient and Modern Indian history there.I have taught in another school in Mohali,Punjab teaching students from classes 9-12.Presently I am working as an online tutor with concept tutors,Bangalore,India(Carve Niche Pvt.Ltd.) for the last 1year and also have been appointed as an online history tutor by Course Hero(California,U.S) and Vidyalai.com(Chennai,India).
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