DEPARTMENT OF BUSINESS

FINANCIAL ACCOUNTING ASSIGNMENT

TOPIC: STOCK VALUATION

From the following information, prepare the following:

$($a$)$ Stock valuation tables using FIFO, LIFO and AVCO

$($b$)$ The Trading Account and Profit and Loss Account highlighting the gross and net profits earned under each of the three methods.

$($c$)$ calculate the frgius for Puchases and Sales.

$2009/$Month

January

February

April

July

August

September

November

December

Purchases

$450$$$10$ per unit

$350$$$15$ per unit

Issues

Selling Price

$400$ units

$250$ units

$200$ units

$500$$$20$ per unit

The following additional information is submitted and is to be apportioned: FIFO $1,$ LIFO $\frac{1}{4},$ and AVCO $\frac{1}{4}.$

$\backslash$table$[[$Rent$,$$$1,500$