Closing Inventory consists of 1,100 units. What would be the cost of Closing Inventory under FIFO and LIFO methods?
Opening Inventory 1000 units @ $ 10 $ 10,000
Purchase (1) 800 units @ $ 11 $ 8,800
Purchase (2) 500 units @ $ 14 $ 7,000
Purchase (3) 400 units @ $ 12 $ 4,800
Purchase (4) 300 units @ $ 13 $ 3,900
------------ -----------
Totals 3000 units $ 34,500
======= ======
Mohd moiz from India
What would be the cost of Closing Inventory under FIFO and LIFO methods?
Vinod Kumar
Educator
Prof. Vinod Kumar is an Indian Educator, Motivational Speaker, Naturopathic Practitioner and Entrepreneur . He is the founder of Svtuition... read more »
January 17, 2013
Answer the Questions and Become Master
Subscribe to:
Post Comments (Atom)
0 comments:
Post a Comment