The following records have been extracted from the stores ledger of DXL Ltd: Find out value of

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The following records have been extracted from the stores ledger of DXL Ltd:

Date 02/01/07 21/01/07 31/01/07 10/02/07 15/03/07 Purchase Qty. 10,000 7,000 2,200 800 6,200 Rate per unit

Find out value of closing inventory under periodic system using

(a) LIFO,

(b) FIFO,

(c) Simple Average of Prices and

(d) Weighted Average of Prices method.

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Financial Accounting

ISBN: 9780071078023

1st Edition

Authors: Dhanesh K. Khatri

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Question Posted: Dec 16, 2023 11:53 PM

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The following records have been extracted from the stores ledger of DXL Ltd: Find out value of

Question:

Date 02/01/07 21/01/07 31/01/07 10/02/07 15/03/07 Purchase Qty. 10,000 7,000 2,200 800 6,200 Rate per unit 100 95 96 100 101 Date 15/01/07 28/01/07 21/02/07 02/03/07 29/03/07 Issue Qty. 8,500 3,500 7,000 800 4,400

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Closing Inventory Qty Opening Inventory Qty Purchase Qty Issued Qty Here Closing Inventory Qty nil 2...View the full answer

Financial Accounting

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