Using FIFO and LIFO how much we would assign costs to materials issued during the...
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Using FIFO and LIFO how much we would assign costs to materials issued during the month and to materials on hand at the end of the month as follows?
Dec. 1 Balance, 1,000 Kg @ Rs.20
Dec.10 Issued 500 Kg @ Rs.40
Dec.15 Purchased 1,000 Kg @ Rs.24
Dec.20 Issued 250 Kg @ Rs.46
Dec.26 Issued 500 Kg @ Rs.46
Dec.28 Purchased 500 Kg @ Rs.26
Dec.30 Issued 500 Kg @ Rs.50
Q.2 Using FIFO and LIFO how much we would assign costs to materials issued during the month and to materials on hand at the end of the month as follows? Dec. 1 Balance, 1,000 Kg @ Rs.20 Dec. 10 Issued 500 Kg @ Rs.40 Dec. 15 Purchased 1,000 Kg @ 2 Rs.4 Dec. 20 Issued 250 Kg @ Rs.46 Dec. 26 Issued 500 Kg @ Rs.46 Dec. 28 Purchased 500 Kg @ Rs.26 Dec. 30 Issued 500 Kg @ Rs.50
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