Question: 1 Q.2 Using FIFO and LIFO how much we would assign costs to materials issued during the month and to materials on hand at the

1 Q.2 Using FIFO and LIFO how much we would assign

1 Q.2 Using FIFO and LIFO how much we would assign costs to materials issued during the month and to materials on hand at the end of the month as follows? Dec. 1 Balance, 1,000 kg@ Rs.20 Dec. 10 Issued 500 Kg @ Rs.40 Dec. 15 Purchased 1,000 kg @ 24Rs Dec. 20 Issued 250 Kg @ Rs.46 Dec. 26 Issued 500 kg @Rs.46 Dec. 28 Purchased 500 kg @ Rs.26 Dec. 30 Issued 500 Kg@Rs.50

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