Question: Need solution to the following Following are the data pertaining to the purchase and sale of an item P of inventory during March: March: 1

Need solution to the following

Following are the data pertaining to the purchase and sale of an item P of inventory during March: March: 1 balance 400 units @ Rs. 2 each 5 purchased 400 units @205 10 sold 600 units 15 purchased 600 units @110 20 purchased 200 units @2.15 25 sold 600 units 28 purchased 400 units @115 30 purchased 400 units @220 31 sold 600 units 1. prepared scdedules to calculate the ending inventory at March 31. 2004 under each of the following inventory methods: i. FIFO ii. Moving average 2. compute the gross prot if sale price is Rs. 5.3 each

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