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Plz avoid giving half Ans. need full information Credit Rs. 1,200 Journal Entries in the Books of SAR Ltd. Date Particulars LE Debit Rs. Oct.

Plz avoid giving half Ans. need full information

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Credit Rs. 1,200 Journal Entries in the Books of SAR Ltd. Date Particulars LE Debit Rs. Oct. 10 Purchases Nc Dr 1,200 To Creditors Cash A/C Oct. 15 Purchases / D 3.750 To Credito Cash Ac Oct 21 Purchases Nc Dr 2,700 To Creditor Cash Me Oct. 28 Purchases Alc Dr. 950 To Creditors Cash Alc Oct. 31 Inventory Alc Dr 2,480 To Purchases de 3.750 2,700 950 2,480 2. First-in First-out (FIFO) Allocation of Cost to Closing Stock In First-In First-Out method, it is presumed that first purchased units are sold first, so stock left unsold is from last arrivals (1.e., from most recent purchases). b33 Sum 6 From the following details of SAR Ltd., find 1. Cost of closing inventory by FIFO method. 2. Cost allocated to cost of sales. 3. Percentage of total physical units issued for sale and in closing inventory. 4. Percentage of total cost allocated to cost of sales and to closing inventory. SAR Ltd. Inventory details from Oct. 1, 2007 to Oct. 31, 2007 Purchase Units Total Opening Inventory Purchase Purchase Purchase Purchase Oct. 1 10 15 21 28 5 10 25 15 5 Rate 100 120 150 180 190 500 1.200 3.750 2.700 950 9.100 60 As per physical stock-taking on Oct. 31, units left unsold in stores and shelf and under ownership of SAR Ltd. are 15 units

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