Question: PROBLEMS FOR GROUP 10 1. Prepare the Inventory records. DATE PARTICULARS PRICE PER UNIT 1.01.2021 Balance in inventory was 1,200 bags of rice OMR 2.100

PROBLEMS FOR GROUP 10 1. Prepare the Inventory records.

DATE PARTICULARS PRICE PER UNIT
1.01.2021 Balance in inventory was 1,200 bags of rice OMR 2.100 per bag
2.01.2021 Purchased 1,500 bags of rice OMR 2.250 per bag
4.01.2021 Sold 1,680 bags of rice
6.01.2021 Purchased 660 bags of rice OMR 2.150 per bag
8.01.2021 Purchased 300 bags of rice OMR 2.050 per bag
10.01.2021 Sold 1,260 bags of rice
15.01.2021 Purchased 750 bags of rice OMR 2.400 per bag
18.01.2021 Sold 1,200 bags of rice

Required: Prepare the inventory records using the Last-In-First-Out method

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