TOPIC: STOCK VALUATION

From the following information, prepare the following:

$($a$)$ Stock valuation tables using FIFO, LIFO and AVCO

$($b$)$ The Trading Account and Profit and Loss Account highlighting the gross and net profits earned under each of the three methods.

$($c$)$ calculate the frgiues for Puchases and sales.

$2009/$Month

January

Purchases

$450$$$10$ per unit

Issues

$350$$$15$ per unit

April

July

August

September

November

December

$500$$$20$ per unit

Selling Price

$400$ units $$40$ per unit

$250$ units $$45$ per unit

$200$ units $,$$$45$ per unit $475$ units $$50$ per unit

The following additional information is submitted and is to be apportioned: FIFO $\frac{1}{2},$ LIFO $\frac{1}{4},$ and AVCO $\frac{1}{4}.$

$\backslash$table$[[$Rent$,$$$1,500$