Question: Q.1. Find out closing inventory using FIFO method with the help of the following information. January 1, 2019: Opening Stock 600 units @ SR 8

Q.1. Find out closing inventory using FIFO method with the help of the following information.

January 1, 2019: Opening Stock 600 units @ SR 8 per unit

January 6, 2019 Issue goods for production 300 units

January 9, 2019: Purchase goods 350 units @ SR 9 per unit

January 12, 2019: Purchase goods 200 units @ SR10 per unit

January 16, 2019 Issue goods for production 500 units

January 24, 2019 Issue goods 300 units

January 28, 2019 Purchase goods 150 units @ SR 11 per unit

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