We want LIFO awnsee

lifo

TASK 2 (40 Marks) A construction company has received cement bags over a period of 2 months (August 1" 2021 to September 30 2021) and utilized in their projects in the pattern as shown below. The Opening Stock of cement bags as on 1" August 2021 is 1200 bags. Date Utilization No. of Bags Cost of One Cement Bag (OMR) 02.08.2021 Purchased 560 3.250 05.08.2021 Issued 475 07.08.2021 Issued 330 10.08.2021 Purchased 1500 3.120 13.08.2021 Purchased 475 3.550 17.08.2021 Issued 650 22.08.2021 Issued 1300 26.08.2021 Purchased 2000 3.280 30.08.2021 Issued 190 02.09.2021 Issued 675 05.09.2021 Issued 550 10.09.2021 Purchased 1000 3.450 14.09.2021 Issued 750 19.09.2021 Issued 420 23.09.2021 Purchased 1250 3.540 27.09.2021 Issued 1000 30.09.2021 Issued 260 Adopt the Last in First out (LIFO) an o) method of inventory management system and ascertain the value of the closing stock. TASK 2 (40 Marks) A construction company has received cement bags over a period of 2 months (August 1" 2021 to September 30 2021) and utilized in their projects in the pattern as shown below. The Opening Stock of cement bags as on 1" August 2021 is 1200 bags. Date Utilization No. of Bags Cost of One Cement Bag (OMR) 02.08.2021 Purchased 560 3.250 05.08.2021 Issued 475 07.08.2021 Issued 330 10.08.2021 Purchased 1500 3.120 13.08.2021 Purchased 475 3.550 17.08.2021 Issued 650 22.08.2021 Issued 1300 26.08.2021 Purchased 2000 3.280 30.08.2021 Issued 190 02.09.2021 Issued 675 05.09.2021 Issued 550 10.09.2021 Purchased 1000 3.450 14.09.2021 Issued 750 19.09.2021 Issued 420 23.09.2021 Purchased 1250 3.540 27.09.2021 Issued 1000 30.09.2021 Issued 260 Adopt the Last in First out (LIFO) an o) method of inventory management system and ascertain the value of the closing stock. TASK 2 (40 Marks) A construction company has received cement bags over a period of 2 months (August 1" 2021 to September 30 2021) and utilized in their projects in the pattern as shown below. The Opening Stock of cement bags as on 1" August 2021 is 1200 bags. Date Utilization No. of Bags Cost of One Cement Bag (OMR) 02.08.2021 Purchased 560 3.250 05.08.2021 Issued 475 07.08.2021 Issued 330 10.08.2021 Purchased 1500 3.120 13.08.2021 Purchased 475 3.550 17.08.2021 Issued 650 22.08.2021 Issued 1300 26.08.2021 Purchased 2000 3.280 30.08.2021 Issued 190 02.09.2021 Issued 675 05.09.2021 Issued 550 10.09.2021 Purchased 1000 3.450 14.09.2021 Issued 750 19.09.2021 Issued 420 23.09.2021 Purchased 1250 3.540 27.09.2021 Issued 1000 30.09.2021 Issued 260 Adopt the Last in First out (LIFO) an o) method of inventory management system and ascertain the value of the closing stock. TASK 2 (40 Marks) A construction company has received cement bags over a period of 2 months (August 1" 2021 to September 30 2021) and utilized in their projects in the pattern as shown below. The Opening Stock of cement bags as on 1" August 2021 is 1200 bags. Date Utilization No. of Bags Cost of One Cement Bag (OMR) 02.08.2021 Purchased 560 3.250 05.08.2021 Issued 475 07.08.2021 Issued 330 10.08.2021 Purchased 1500 3.120 13.08.2021 Purchased 475 3.550 17.08.2021 Issued 650 22.08.2021 Issued 1300 26.08.2021 Purchased 2000 3.280 30.08.2021 Issued 190 02.09.2021 Issued 675 05.09.2021 Issued 550 10.09.2021 Purchased 1000 3.450 14.09.2021 Issued 750 19.09.2021 Issued 420 23.09.2021 Purchased 1250 3.540 27.09.2021 Issued 1000 30.09.2021 Issued 260 Adopt the Last in First out (LIFO) an o) method of inventory management system and ascertain the value of the closing stock