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An organisation’s stock records show the following transactions for a specific item during last month:
Date Receipts Issues
units units
4th 50
13th 200
20th 50
27th 50
(this might not look clear, but it is same as this https://bbs.cfaspace.com/viewthread.php?action=printable&tid=768784 )
The stock at the beginning of last month consisted of 100 units valued at £6,700.
The receipts last month cost £62 per unit.
The value of the closing stock for last month has been calculated twice – once using a FIFO valuation and once using
a LIFO valuation.may i know what is the ending inventories? to double check with mine. Thanks if you can help
An organisation’s stock records show the following transactions for a specific item during last month:
Date Receipts Issues
units units
4th 50(issues)
13th 200(receipts)
20th 50(issues)
27th 50(issues)
The stock at the beginning of last month consisted of 100 units valued at £6,700.
The receipts last month cost £62 per unit.
The value of the closing stock for last month has been calculated twice – once using a FIFO valuation and once using
a LIFO valuation.what is the fifo and lifo ending inventories. i need to check with mine. thanks if you can help
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