Q1. Find out inventory available at the end of May 31, 2015 with the help of the following information using FIFO and LIFO method.

May 1, 2015: Opening Stock 500 units @ SR 10 per unit

May 3, 2015: Purchase goods 300 units @ SR11 per unit

May 4, 2015: Purchase goods 200 units @ SR12 per unit

May 7, 2015 Issue goods for production 400 units

May 9, 2015 Purchased goods 250 units @ SR 13 per unit

May 11, 2015 Issue goods for production 450 units