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(Contd.) (b) LIFO January 1 100 100 1 1 2 100 200 y33 20 100 200 140 1- 100 300 180 120 22 23 60
(Contd.) (b) LIFO January 1 100 100 1 1 2 100 200 y33 20 100 200 140 1- 100 300 180 120 22 23 60 40 20 NN 80 20 1 80 80 N 1 1.5 1.5 1.5 100 300 210 120 90 90 (c) Weighted Average Cost Method January 1 100 1 100 100 20 100 2 200 200 22 60 1.5 140 23 60 1.5 80 P.8.26 A manufacturer of Surat purchased three chemicals, A, B and C from Bombay. The invoice gave the following information: Chemical A: 3,000 kgs @ 842 per kg 31,26,000 Chemical B: 5,000 kgs @ +38 per kg 1,90,000 Chemical C: 2,000 kgs @ 247.50 per kg 95,000 Sales tax 20.550 Railway freight 10,000 Total cost 4,41,550 A shortage of 200 kgs in chemical A, of 280 kgs in chemical B and of 100 kgs in chemical was noticed due to breakages. At Surat, the manufacturer paid octroi duty & ti per kg. He also paid cartage, 82,000 for chemical A, 26,000 for chemical B and 3,000 for chemical C. Calculate the stock rate that you would suggest for pricing issue of chemicals assuming a provision of 5 per cent towards further deterioration
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