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c) Xplate Ltd. sells a particular item of stock which had the following movements during 20X2. th 4 February Purchase 40 @ Shs 100 th

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c) Xplate Ltd. sells a particular item of stock which had the following movements during 20X2. th 4 February Purchase 40 @ Shs 100 th 6 March Purchase 20 @ Shs 120 th 8 May Sale 22 @ Shs 300 th 9 Oct Purchase 10 @ Shs 150 @ st 1 Dec Sale 35 @ Shs 280 Required: Calculate the value for closing stock assuming (a) FIFO is used (9 Marks) (b) LIFO is used (8 marks)

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