From the following information calculate the value of closing stock following First-in- First-Out(FIFO) method and...
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Accounting
From the following information calculate the value of closing stock following First-in- First-Out(FIFO) method and Weighted Average Cost (WAC) method. Date Particulars Total Units Per Unit Cost Cost 1500 2 3000 2500) 31 7500 3 1000 3.5 3500 Opening Jan-01 Inventory Mar-27 Purchase Jun-12Purchase Sep-19Purchase Nov-19Purchase Total units available Sold during the year Closing stock 2200 3300 O A 8800 14850 4.5 10500 37650 7200 3300
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