The following records have been extracted from the stores ledger of Manglam Enterprises Ltd: Find out value

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The following records have been extracted from the stores ledger of Manglam Enterprises Ltd:

Date 02/01/08 21/01/08 31/01/08 10/02/08 15/03/08 Purchase Qty. 20,000 17,000 14,200 1,000 6,200 R Rate per

Find out value of closing inventory under periodic system using

(a) LIFO,

(b) FIFO,

(d) Weighted average of prices method.

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Financial Accounting

ISBN: 9780071078023

1st Edition

Authors: Dhanesh K. Khatri

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Question Posted: Dec 16, 2023 11:53 PM

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The following records have been extracted from the stores ledger of Manglam Enterprises Ltd: Find out value

Question:

Date 02/01/08 21/01/08 31/01/08 10/02/08 15/03/08 Purchase Qty. 20,000 17,000 14,200 1,000 6,200 R Rate per unit 110 100 98 99 101 Date 15/01/08 28/01/08 21/02/08 02/03/08 29/03/08 Issue Qty. 18,500 13,500 15,600 800 4,400

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Closing stock 5600 units a ...View the full answer

Financial Accounting

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