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Posted on Jul 26, 2024

UsethefollowinginformationofWediWokeliandCo. AcompanyjuststartingbusinessmadethefollowingfourinventorypurchasesinJune 2016: Kshs June1 150unitsRs.6.60/unitcost 990 June10 200unitsRs.6.30/unitcost 1,260 June15 200unitsRs.5.85/unitcost 1,170 June28 150unitsRs.5.20/unitcost 780 Kshs4,200 AphysicalcountofmerchandiseinventoryonJune30revealsthatthereare250units onhand. Requirement: (a):UsingtheperiodicLIFOinventorymethod,thevalueoftheendinginventoryonJune 30is? (2marks) (b):UsingtheperiodicFIFOinventorymethod,theamountallocatedtocostofgoods soldforJuneis?

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