Question
Prepare Valuation Tables for Matrix Bhd for the month of June, July and August 2022 using all three (3) valuation method: FIFO, LIFO and AVCO.
Prepare Valuation Tables for Matrix Bhd for the month of June, July and August 2022 using all three (3) valuation method:
FIFO, LIFO and AVCO.
2022 June |
|
1 | Balance from last period is 300 units at RM 2 |
2 | Received 1,000 units at RM3 |
3 | Withdrew 400 units |
24 | Received 1,000 units at RM 4 |
25 | Withdrew 1,100 units |
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2022 July | Purchased Raw material |
2 | Received 2,000 units at RM 3 |
15 | Received 10,000 units at RM 4 |
24 | Received 4,000 units at RM 5 |
2022 July | Released for Production |
3 | Withdrew 1,400 units |
17 | Withdrew 7,000 units |
26 | Withdrew 8,000 units |
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2022 August | Purchased Raw material |
2 | Received 4,000 units at RM 6 |
15 | Received 20,000 units at RM 8 |
24 | Received 8,000 units at RM 10 |
2022 August | Released for Production |
3 | Withdrew 2,800 units |
17 | Withdrew 14,000 units |
26 | Withdrew 15,000 units |
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