Zubi Plc is a furniture manufacturing company and is in business from 10 years. It has large
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Question:
Zubi Plc is a furniture manufacturing company and is in business from 10 years. It has large multinational and national banks as a customer. The following are the purchases and issues during the month of March:
March 01 | Opening Inventory | 800 units | @ $ 7 |
March 05 | Purchases | 1,000 units | @ $ 6.55 |
March 09 | Purchases | 400 units | @ $ 6.2 |
March 25 | Purchases | 1,400 units | @ $ 6.05 |
March 12 | Sales | 1,200 units | |
March 27 | Sales | 1,000 units |
Required:
Find out the value of Ending Inventory on March 31.
Find out the value of cost of goods sold under FIFO method using the perpetual inventory method.
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