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Question 5: (from chapter 29) From the following figures calculate the closing inventory that would be shown using i) FIFO, ii) LIFO, iii) AVCO

 

Question 5: (from chapter 29) From the following figures calculate the closing inventory that would be shown using i) FIFO, ii) LIFO, iii) AVCO methods separately. Month January April October Bought No. of items bought 123 83 153 Price bought at () 19 21 22 Month June November Sold No. of items sold 128 213 Price sold at () 26,5 29,5

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