Question: EXAMPLE (This example will be used to discuss FIFO, LIFO and Weighted Average Method) Nutration Company is a retail company that purchases beef from oversea

EXAMPLE (This example will be used to discuss
EXAMPLE (This example will be used to discuss FIFO, LIFO and Weighted Average Method) Nutration Company is a retail company that purchases beef from oversea and sell to the local customer. On the 15': August 2021, the company had stock of 50kg of beefs worth RM150 per kg. The following were transactions carried out by the company until 31St August 2021. August 2021 2 Issued 30kg 5 Receipt 60kg @ RM160 12 Returned to store (issued on 2nd August] 10kg 15 Issued 80kg 22 Return to supplier (purchased on 5'?h Aug] 5kg 26 Receipt 120kg @ RM220 29 Issued 100kg On 31st August 2021, physical stock count showed a balance of 15kg in the store. Required: a] FIFO b] LIFO c] Weighted Average Method (AVCO)

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