Question
Prepare two different inventory control tables for Brawn Ltd once use LIFO another time use Weighted Average. AND compare the gross profit under the each
Prepare two different inventory control tables for Brawn Ltd once use LIFO another time use Weighted Average. AND compare the gross profit under the each method.
| Date | Transactions | Unit | Unit price/cost |
| 1 March | Purchases | 250 | $40 |
| 15 March | Purchase | 150 | $43 |
| 28 March | Sale | 200 | $80 |
| 10 April | Purchase | 100 | $45 |
| 29 April | Sale | 80 | $85 |
| 30 April | Sale | 120 | $86 |
| 20 May | Purchase | 50 | $48 |
| 22 May | Sales | 75 | $90 |
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Advanced Accounting
Authors: Joe Hoyle, Thomas Schaefer, Timothy Doupnik
10th edition
0-07-794127-6, 978-0-07-79412, 978-0077431808
