Question
Davidson Electronics has the following data available Date Explanation Units Unit cost Total Cost 1 st of January 2012 Beginning inventory 5,000 SR 8 SR
Davidson Electronics has the following data available
| Date | Explanation | Units | Unit cost | Total Cost |
| 1st of January 2012 | Beginning inventory | 5,000 | SR 8 | SR 40,000 |
| 2nd April | Purchases | 1,5000 | SR 10 | 150,000 |
| 28th August | Purchases | 20,000 | SR 12 | 240000 |
|
| Total | 40,000 |
| 430,000 |
Requirement: Ending inventory of the company is 5,000 units. Find the Costs of goods sold for the company through FIFO, LIFO and Average method.
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Auditing And EDP Objective Questions And Explanations
Authors: Irvin N Gleim, William A. Hillison
4th Edition
0917537432, 978-0917537431
