Subject : Cost Accounting

b)The total manufacturing cost for Rayshum Hosier House is 302,000 dollars, with the sales 523,610 dollars, while the work in process at the start of the month is amounted 35,600 dollars with the ending processing cost as 40,500 dollars. The Finished goods available in the warehouse earlier is 16,200 dollars while the finished goods at the end of month is 21,300 dollars. You are required to calculate the : Cost of Goods available for sale Gross Profit C) Following transaction relate to a material coded as M-120 .Prepare the material ledger card using Average costing system. . During Costing system which system seemed to be more appropriate as FIFO ,LFO ACM from the seller point of view without calculation. Give your general review. Date Transaction Units with rate March 01 Balance available 600 units at the rate of 28 dollars March 03 Received 300 units at the rate of 32 dollars March 08 Issued 250 units March 21 Received 400 units at the rate of 22 dollars March 24 Issued 700 units March 27 Issued 50 units 2