Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Units Ringgit Malaysia Date Received Issued Balance Price Received Issued Balance 1 Jan 1600 $ 16 $ 25,600 11 Jan 2,000 14 $ 28,000 16
| Units |
| Ringgit Malaysia | |||||
Date | Received | Issued | Balance |
| Price | Received | Issued | Balance |
1 Jan |
|
| 1600 |
| $ 16 |
|
| $ 25,600 |
11 Jan | 2,000 |
|
|
| 14 | $ 28,000 |
|
|
16 Feb |
| 960 |
|
|
|
|
|
|
20 Mar |
| 680 |
|
|
|
|
|
|
22 June | 580 |
|
|
| 15 | 8,700 |
|
|
18 Aug |
| 950 |
|
|
|
|
|
|
10 Sept |
| 810 |
|
|
|
|
|
|
8 Oct | 1,510 |
|
|
| 17 | 25,670 |
|
|
9 Dec |
| 930 |
|
|
|
|
|
|
21 Dec | 400 |
|
|
| 18 | 7,200 |
|
|
find ending inventory cost using:
1. LIFO ( perpetual)
2. FIFO (perpetual)
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started