The following information relates to the receipts and issues of stock by Maxim Manufacturing for the...

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The following information relates to the receipts and issues of stock by Maxim Manufacturing for the year ended December 2019. There was no opening stock. Receipts: January 100 units at $30 each $3,000 April 100 units at $34 each $3,400 October 200 units at $40 each $8,000 Issues May 80 units @ $50 each $ 4,000 November 240 units @ 60 each $14,400 A) Prepare the Stock Card for the period ended December 2019. Using both the FIFO and LIFO methods on a perpetual inventory basis, calculate the closing stock in trade that would be shown. The following information relates to the receipts and issues of stock by Maxim Manufacturing for the year ended December 2019. There was no opening stock. Receipts: January 100 units at $30 each $3,000 April 100 units at $34 each $3,400 October 200 units at $40 each $8,000 Issues May 80 units @ $50 each $ 4,000 November 240 units @ 60 each $14,400 A) Prepare the Stock Card for the period ended December 2019. Using both the FIFO and LIFO methods on a perpetual inventory basis, calculate the closing stock in trade that would be shown.