Prepare a statement showing the pricing of issues, on the basis of (5 marks) (a) First...

   

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Prepare a statement showing the pricing of issues, on the basis of (5 marks) (a) First In First Out (FIFO) (b) Simple Average and 2018 March 1 Opening balances 250 units @ OMR 7.5 each 2 Purchased 240 units @ OMR 7.2 each. 25 5 7 10 13 18 20 25 Issued 250 units to Job X vide M.R.No.12 Purchased 200 units @ OMR 7.50 each Purchased 300 units @ OMR 7.80 each Issued 300 units to Job Y vide M.R.No.15 Issued 150 units to Job Z vide M.R.No.17 Purchased 200 units @ OMR 8 each Issued 150 units to Job K vide M.R.No.25 Prepare a statement showing the pricing of issues, on the basis of (5 marks) (a) First In First Out (FIFO) (b) Simple Average and 2018 March 1 Opening balances 250 units @ OMR 7.5 each 2 Purchased 240 units @ OMR 7.2 each. 25 5 7 10 13 18 20 25 Issued 250 units to Job X vide M.R.No.12 Purchased 200 units @ OMR 7.50 each Purchased 300 units @ OMR 7.80 each Issued 300 units to Job Y vide M.R.No.15 Issued 150 units to Job Z vide M.R.No.17 Purchased 200 units @ OMR 8 each Issued 150 units to Job K vide M.R.No.25

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3 FIFO FirstIn FirstOut assumes that the oldest products in a companys inventory have been sold fir... View the full answer