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I have provided a example solution of the question so I need excatly like tht for fifo , lifo and avco . inventory valuation topic.
I have provided a example solution of the question so I need excatly like tht for fifo , lifo and avco . inventory valuation topic.
Mydin, a sole proprietor, buys and sells a single product. His first five months of trading showed the following purchases and sales. Sales Purchases 185 at RM25.00 each 120 at RM26.00 each 2015 January February March April May 225 at RM40.00 each 200 at RM28.00 210 at RM41.00 each Required: a) Calculate the closing inventory at 30 June 2015 using the FIFO (first in, first out) method of valuation. Calculate the closing inventory at 30 June 2015 using the LIFO (last in, first out) method of valuation. b) c) Calculate the closing inventory at 30 June 2015 using the AVCO (weighted average cost) method of valuation. UNTUU UU UJULAPU FIFO Date Balance 2015 Rate ($) Received Tissues Quanlity Rate (B) Amants) Quantity 30 6000 150 32. 4800 Amount (6) | Quantity 200 Rate ($) Amount (B) 30 - January 200 200 16000 6000 4800 30 32 felberg 1150 - March 250 40 10 000 100 [ 32 32 3200 3200 1 April 180 35 6300 100 (180 35 6300 1 250 41 10250 - may 30 35 Ich an 1050Step by Step Solution
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