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Given: Following informations have been taken from the books of Morton Electro. - Inventory, January 1, Purchases, March 15, Purchases, June 6, Purchases, September 20,
Given: Following informations have been taken from the books of Morton Electro. - Inventory, January 1, Purchases, March 15, Purchases, June 6, Purchases, September 20, Purchases, December 30, During the year 37200 units are sold. 8000 units @Rs.5.89 R47120 10300 units @Rs.6.20 Rs.63860 12400 units @Rs.6.60 Rs.81840 9600 units @Rs.6.80 Rs.65280 7700 units @Rs.7.00 Rs.53900 REQUIRED: - Compute the Cost of Ending Inventory and Cost of Goods Sold under: a) FIFO c) WEIGHTED AVERAGE
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