Show the stores ledger entries as they would appear when using (a) The weighted average method (b)
Question:
Show the stores ledger entries as they would appear when using
(a) The weighted average method
(b) The LIFO method of pricing issues, in connection with the following transactions:
In a period of rising prices such as above what are the effects of each method?
Transcribed Image Text:
April 1 Balance in hand 2 Purchased 4 Issued 6 Purchased 11 Issued 19 Issued 20 Purchased 27 Issued Unit 300 200 150 200 150 200 200 250 Value 600 440 460 480
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Lets calculate the stores ledger entries using both the weighted average method and the LIFO method for pricing issues based on the provided transacti...View the full answer
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