Question: QUESTION THREE The information below was deduced from the books of Landlord Ltd for the month of December 2021. December 1st balance 10units @Gh1.00 December

QUESTION THREE The information below was deduced from the books of Landlord Ltd for the month of December 2021. December 1st balance 10units @Gh1.00

December 4th purchases 15units @Gh3.00

December 10th purchases 12units @Gh5.00

December 12th sales 15units @Gh6.00

December 15th purchases 10units @Gh5.50

December 20th sales 18units @Gh7.00

December 25th purchases16units @Gh6.00

December 30th sales 25units @Gh7.50

The selling, general and administrative expenses for the month totaled Gh100.00, whilst the standard price was Gh4.00

You are required to prepare; (a) Stock sheet using;

i. First-in-First Out (FIFO) pricing method

ii. Last-in-First-Out (LIFO) pricing method

iii. Standard pricing method

(b) The income statement for the month of December using the FIFO and the LIFO methods

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