Question 5: (from chapter 29) From the following figures calculate the closing inventory that would be...

 

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Question 5: (from chapter 29) From the following figures calculate the closing inventory that would be shown using i) FIFO, ii) LIFO, iii) AVCO methods separately. Month January April October Bought No. of items bought 123 83 153 Price bought at (£) 19 21 22 Month June November Sold No. of items sold 128 213 Price sold at (£) 26,5 29,5 Question 5: (from chapter 29) From the following figures calculate the closing inventory that would be shown using i) FIFO, ii) LIFO, iii) AVCO methods separately. Month January April October Bought No. of items bought 123 83 153 Price bought at (£) 19 21 22 Month June November Sold No. of items sold 128 213 Price sold at (£) 26,5 29,5

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The answer for the question is that Number of units sold 128 213 341 units ... View the full answer