From the following data calculate the value of inventory on 31st Jan. 1998, by (i) LIFO and (ii) FIFO method:

1998 1

st Jan. Opening Stock 200 Pieces @ Rs. 2 each 4

thJan. Purchased 100 Pieces @ Rs. 2.20 each 10th Jan. Purchased 150 Pieces @ Rs. 2.40 each 20th Jan. Purchased 180 Pieces @ Rs. 2.50 each 2

nd Jan. Issued 150 Pieces 7

th Jan. Issued 100 Pieces 12th Jan. Issued 200 Pieces

[Ans.: Stock LIFO 180 units of Rs. 450 and FIFO 180 units of Rs. 450]