Question
Kuching Specialist Hospital sells only one model of stethoscope and on 1st January, held 1st stock of 30 units which had cost rm 90 each
Kuching Specialist Hospital sells only one model of stethoscope and on 1st January, held 1st stock of 30 units which had cost rm 90 each
The stock carried out showed that there were 60 units in store. Calculate the value of stock held at the end of march using the LIFO method for pricing out issues from store
Date Purchased (units) Cost Price / unit (RM) Sold Selling Price Units (RM) 9th Jan 20 92 16th Jan 50 94 31st Jan 60 95 90 210 5th Feb 50 95 12th Feb 40 99 28th Feb 30 91 135 220 7th Mar 60 90 31st Mar 40 89 90 215
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Accounting concepts and applications
Authors: Albrecht Stice, Stice Swain
11th Edition
978-0538750196, 538745487, 538750197, 978-0538745482
