Q #

S& Y Boutique has incurred the following transactions during the previous month;

	Number of units	Cost per unit	Total Cost
Beginning Inventory	4	Rs. 1000	Rs. 4000
1st Purchase	8	2000	16000
2nd Purchase	6	3000	18000
3rd Purchase	5	4000	20000

Available for sale	23		Rs. 58000
Units in Ending Inventory	13
Units Sold	10

Required:

Find the Ending Inventory and Cost of Goods Sold for the above Company using the following methods of Periodic Inventory System;

1. First-in-First out method
2. Last in First out method