Suppose an international organizationOxford Manufacturing company hired you for the post of inventory manager. They hired you on the 1st of January 2021, so you are supposed to take care about the inventory-related transactions till date. The company made the following transactions, and you are supposed to calculate the closing stock of the company, Cost of goods sold, and profit made by the company.

The opening stock of the company was 100 units @ 1000 each

3rd Jan Company purchases 20 units @ 1200 each

7th Jan Sold 70 Units for 1500 each

14th Jan Purchase 150 Units @ 1700 each

19th Jan Purchase 70 Units @ 1600 each

23rd Jan Sold 80 units @ 2100 each

29th Jan Sold 100 units @ 1900 each

solved this using LIFO method..