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2-The following data relates to the Aadil Company: PURCHASES SALES BALANCE DATE Units Cost Units Units Beg. Inventory 200 @ Rs.9.75 January 03 50 Rs.10.00
2-The following data relates to the Aadil Company: PURCHASES SALES BALANCE DATE Units Cost Units Units Beg. Inventory 200 @ Rs.9.75 January 03 50 Rs.10.00 250 January 10 100 Rs.10.50 350 January 15 175 175 January 20 225 Rs.10.80 400 January 31 150 250 REQUIRED: Determine the COST OF ENDING INVENTORY, COST OF GOODS SOLD & GROSS PROFIT: Under Perpetual and Periodic Inventory System assuming 1)FIFO ii) LIFO iii) AVERAGE COST METHOD . 2-The following data relates to the Aadil Company: PURCHASES SALES BALANCE DATE Units Cost Units Units Beg. Inventory 200 @ Rs.9.75 January 03 50 Rs.10.00 250 January 10 100 Rs.10.50 350 January 15 175 175 January 20 225 Rs.10.80 400 January 31 150 250 REQUIRED: Determine the COST OF ENDING INVENTORY, COST OF GOODS SOLD & GROSS PROFIT: Under Perpetual and Periodic Inventory System assuming 1)FIFO ii) LIFO iii) AVERAGE COST METHOD
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