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Opening Stock of inventory 4000 units of 10 RO each. 02.04.2018 Purchased 6000 units at 12 RO each. 08.07.2018 Sales 7000 units @ 15 RO
Opening Stock of inventory 4000 units of 10 RO each. 02.04.2018 Purchased 6000 units at 12 RO each. 08.07.2018 Sales 7000 units @ 15 RO each. 15.09.2018 Purchased 8000 units at 13 RO each. 25.12.2018 Sales 4000 units @ 20 RO each. Determine the cost of ending inventory on hand at the year-end and cost of goods sold using a) FIFO b) LIFO and c) Average methods Opening Stock of inventory 4000 units of 10 RO each. 02.04.2018 Purchased 6000 units at 12 RO each. 08.07.2018 Sales 7000 units @ 15 RO each. 15.09.2018 Purchased 8000 units at 13 RO each. 25.12.2018 Sales 4000 units @ 20 RO each. Determine the cost of ending inventory on hand at the year-end and cost of goods sold using a) FIFO b) LIFO and c) Average methods
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