I think there is a mistake in the answer , the answer I am getting $465 using the lifo method in the answer it only explains for the last issue of 70 units dated 29.08 , it does not explain the issue dated 13.08 of 40 units.
Ask the Tutor ACCA MA
Test for Chapter 5 , Question 4 LIFO
7y ago#1There is no mistake.
The question asks for the value of the last issue on 29 August (not for the value of the inventory remaining or the value of the issue on 13 August).
Apologies and thank you for your help
7y ago#3You are welcome :-)
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