Purchases of a certain Product during March, 1992 are set out below: March 1 100 units @

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Purchases of a certain Product during March, 1992 are set out below:

March 1 100 units @ Rs. 10 12 100 units @ Rs. 9.80 15 50 units @ Rs. 9.60 20 100 units @ Rs. 9.40 Units sold during the month were as follows:
March 10 80 units 14 100 units 30 90 units No Opening inventory.
You are required to determine the cost of goods sold for March, under (i) FIFO, (ii) LIFO, and (iii) Weighted Average Cost Method [Ans.: FIFO: 270 units of Rs. 2,648, LIFO: 270 units of Rs. 2,626, Weighted Average Cost Method: 270 units of Rs. 2,639]

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