You are provided with the following information for Moni Trader for the month ended 30 June...
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You are provided with the following information for Moni Trader for the month ended 30 June 2019: Date June 11 01 10 15 16 20 30 Description Beginning Inventory Purchase Sale Sale return Purchase Sale Quantity 200 350 410 30 80 100 Unit cost or selling price Tk 20 Tk 25 Tk 40 Tk 40 Tk 22 Tk 42 Instructions: Calculate: (1) ending inventory (ii) cost of goods sold (ii) gross profit, and (iv) gross profit rate under each of the following methods - (a) LIFO (b) FIFO You are provided with the following information for Moni Trader for the month ended 30 June 2019: Date June 11 01 10 15 16 20 30 Description Beginning Inventory Purchase Sale Sale return Purchase Sale Quantity 200 350 410 30 80 100 Unit cost or selling price Tk 20 Tk 25 Tk 40 Tk 40 Tk 22 Tk 42 Instructions: Calculate: (1) ending inventory (ii) cost of goods sold (ii) gross profit, and (iv) gross profit rate under each of the following methods - (a) LIFO (b) FIFO
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Related Book For
Income Tax Fundamentals 2013
ISBN: 9781285586618
31st Edition
Authors: Gerald E. Whittenburg, Martha Altus Buller, Steven L Gill
Posted Date:
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