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SECTION C 11 Question One. Nyameye Ent Manufactures rubber at Kumasi. The following details relate to the movement of materials in February 2010 February 1

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SECTION C 11 Question One. Nyameye Ent Manufactures rubber at Kumasi. The following details relate to the movement of materials in February 2010 February 1 Beginning balance: 800 units @ $6 per unit. 5 Received 200 units @ $7 per unit Received 200 units @ $8 per unit 16 Issued 800 units 22 Received 400 units @ $8 per unit 23 Issued 500 units 28 Received 600 units @ $9 per unit Required: a.) Prepare a store ledger card using Last In First (LIFO) Price Method in determining the value of the closing Inventory. (10 Marks)

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