Question
ABC Ltd. is the major distributor in Eastern India of one of the renowned Vegetable Oil Brand. They maintain a modern warehouse that caters to
ABC Ltd. is the major distributor in Eastern India of one of the renowned Vegetable Oil Brand. They maintain a modern warehouse that caters to mainly West Bengal State. ABC provides following information on their stock of vegetable oil from 01/09/2020 to 05/09/2020:
01/09/2020 Opening Stock 100 units @ Rs. 10.
02/09/2020 Purchased 400 units @ Rs 15.
03/09/2020 Issued 450 units.
04/09/2020 Purchase 500 units @ Re 22.
05/09/2020 issued 300 units.
1) Compute the value of inventory and cost of goods sold as on 05/09/2020 considering FIFO method that is maintained in inventory management
2) Compute the value of inventory and cost of goods sold as on 05/09/2020 considering LIFO method that is maintained in inventory management.
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Operations and Supply Chain Management The Core
Authors: F. Robert Jacobs, Richard Chase
4th edition
978-1259549724, 1259549720, 1259696596, 978-1259696596
