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Q1. The following information relates to ABC company: Purchases Sales Jun 2009 800 units @ 6 Jul 2009 700 units Sep 2009 1200 units@ 7

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Q1. The following information relates to ABC company: Purchases Sales Jun 2009 800 units @ 6 Jul 2009 700 units Sep 2009 1200 units@ 7 Dec 2009 600 units Feb 2010 1000 units @ 8 You are required to value the stock by month: i. using the FIFO method (7 marks) ii. using the LIFO method (9 marks)

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