Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

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

--------------------------------------------------------------------------------------------------------------------------------------------

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

--------------------------------------------------------------------------------------------------------------------------------------------

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

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Effective Writing A For Accountants

Authors: Claire B. May, Gordon S. May

9th Edition

0132567245, 9780132567244

More Books

Students also viewed these Accounting questions

Question

clarify and articulate your research methodology;

Answered: 1 week ago

Question

consider how to build on prior learning.

Answered: 1 week ago