STU Electronics Limited is a trader in electronic items and maintains its inventory using periodic inventory system. The following data pertains to quarter ended 31st December 2017 for one of its high selling products: 

The sales of the company during the quarter amounted to ₹ 14,400,000. The physical verification at the quarter end revealed 170 units in hands. 

Using LIFO, FIFO and average cost method, calculate: 

1. Cost of goods available for sale 

2. Value of closing inventory 

3. Cost of goods sold 

4. Gross profits

Transcribed Image Text:

Particulars Beginning inventory Purchases Quantity 230 900 Cost per Unit (2) 12,000 12,800