The following records have been extracted from the stores ledger of Manglam Enterprises Ltd: Find out value
Question:
The following records have been extracted from the stores ledger of Manglam Enterprises Ltd:
Find out value of closing inventory under periodic system using
(a) LIFO,
(b) FIFO,
(c) Simple average of prices
(d) Weighted average of prices method.
Transcribed Image Text:
Date 02/01/08 21/01/08 31/01/08 10/02/08 15/03/08 Purchase Qty. 20,000 17,000 14,200 1,000 6,200 R Rate per unit 110 100 98 99 101 Date 15/01/08 28/01/08 21/02/08 02/03/08 29/03/08 Issue Qty. 18,500 13,500 15,600 800 4,400
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Closing stock 5600 units a ...View the full answer
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