The following is a summary of the receipts and issues of materials in a factory during...
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The following is a summary of the receipts and issues of materials in a factory during the month of April. Date Particulars Qty. 1 5 8 10 12 23 Received Received Issued Received Issued Received 2000 300 1200 200 1000 300 Rate per unit Rs. 10 12 I 14 11 31 Issued 200 Prepare a statement showing the pricing of issues on the basis of - a) b) c) d) FIFO method LIFO method Simple Average method Weighted Average method The following is a summary of the receipts and issues of materials in a factory during the month of April. Date Particulars Qty. 1 5 8 10 12 23 Received Received Issued Received Issued Received 2000 300 1200 200 1000 300 Rate per unit Rs. 10 12 I 14 11 31 Issued 200 Prepare a statement showing the pricing of issues on the basis of - a) b) c) d) FIFO method LIFO method Simple Average method Weighted Average method
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a FIFO Method Use the oldest first received materials first for issuing Calculate ending inventory by adding up the cost of the remaining materials at ... View the full answer
Related Book For
Income Tax Fundamentals 2013
ISBN: 9781285586618
31st Edition
Authors: Gerald E. Whittenburg, Martha Altus Buller, Steven L Gill
Posted Date:
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