The following records have been extracted from the stores ledger of DXL Ltd: Prepare stock register under

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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

Prepare stock register under continuous inventory valuation 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: Prepare stock register under

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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a LIFO Method On March 29 2007 closing inventory is 2000 units having a total cost of 201800 as per ...View the full answer

Financial Accounting

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