Oil India is a bulk distributor of oil. A periodic inventory of oil on hand is taken when the books are closed at the end of each month. The following summary of information is available for the month of December.
Sales Rs. 9,45,000
General Administrative Cost Rs. 25,000
Opening Stock 1,00,000 litres @ Rs. 3 per litre : Rs. 3,00,000
Purchases (including freight in)
Dec. 1 2,00,000 litres @ Rs. 2.85 per litre
Dec. 30 1,00,000 litres @ Rs. 3.03 per litre
Closing Stock Dec. 31, 1,30,000 litres

Compute the following by the first in-first out, weighted average and last in-first out method of inventory costing:

(a) Value of inventory on Dec. 31;
(b) Amount of cost of goods sold for Dec;
(c) Profit or loss for Dec.