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Q1. The information below relates to car components used in manufacturing a part called Bolt and Nut for the month of December 2020. Date
Q1. The information below relates to car components used in manufacturing a part called Bolt and Nut for the month of December 2020. Date December 1 December 2 December 3 December 4 December 5 December 6 December 7 December 8 Item Opening Stock Purchases Sales Purchases Sales Purchases Sales Sales Units 4000 800 2500 1200 3000 900 1000 200 GH# i First-in-First-Out (FIFO Method) (12 Marks) ii. Last-in-Last-Out (LIFO Method) (13 Marks) 3.50 5.00 6.00 6.00 8.00 7.00 10.00 12.00 You are required to draw up the store's ledger using the following methods:
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