API Manufacturing has extracted the following store data for part no A5110 for the month of...

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API Manufacturing has extracted the following store data for part no A5110 for the month of October: Date 1/5 3/5 8/5 10/5 15/5 Receipt 70 kg 90 kg 180 kg Purchase per unit 30.50 31.50 32.20 Issued to production 80 110 Required: Using the FIFO and LIFO methods to calculate the Cost of materials issued to production and balance of raw materials in Store Department. API Manufacturing has extracted the following store data for part no A5110 for the month of October: Date 1/5 3/5 8/5 10/5 15/5 Receipt 70 kg 90 kg 180 kg Purchase per unit 30.50 31.50 32.20 Issued to production 80 110 Required: Using the FIFO and LIFO methods to calculate the Cost of materials issued to production and balance of raw materials in Store Department.

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