The following information is taken form a perpetual inventory record. (10) Calculate the value of ending...

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The following information is taken form a perpetual inventory record. (10) Calculate the value of ending inventory and cost of sales for the period ending July 31, using FIFO (First in First Out) Method LIFO (Last in First Out) Method Dates July 1 July 3 July 5 July 8 July 11 July 14 July 16 July 19 July 22 July 25 July 29 Details Beginning balance was 4 @ Rs. 20 :Sales of 2 Items Purchase of 6 Items @ Rs. 20.50 Sales of 3 Items :Sales of 3 Items 11 Purchase of 8 Items @ Rs. 25 Sales of 4 Items Sales of 3 Items Purchase of 5 Items @ Rs. 25.50 Sales of 4 Items :Sales of 2 Items The following information is taken form a perpetual inventory record. (10) Calculate the value of ending inventory and cost of sales for the period ending July 31, using FIFO (First in First Out) Method LIFO (Last in First Out) Method Dates July 1 July 3 July 5 July 8 July 11 July 14 July 16 July 19 July 22 July 25 July 29 Details Beginning balance was 4 @ Rs. 20 :Sales of 2 Items Purchase of 6 Items @ Rs. 20.50 Sales of 3 Items :Sales of 3 Items 11 Purchase of 8 Items @ Rs. 25 Sales of 4 Items Sales of 3 Items Purchase of 5 Items @ Rs. 25.50 Sales of 4 Items :Sales of 2 Items

Answer rating: 100% (QA)

The image displays a list of transactions for a perpetual inventory record and you are required to calculate the value of the ending inventory and cost of sales for a period ending July 31 using both ... View the full answer