vazzy
Jun 24, 2008, 07:40 AM
Diggins LTD had a beginning inventory of 200 units at a cost of $12 per unit on 1 August. During the month, the following purchases and sales were made.
Purchases
August 4 250 units at $13
August 15 350 units at $15
August 28 200 units at $14
Sales
August 7 150 units
August 11 100 units
August 17 300 units
August 24 200 units
determine the ending inventory balance and the value of cost of goods sold under:
a) weighted average method
b)fifo method
i tried this but i stil dont understand it properly
fifo especially like with the units in the balance
i got up to august 7th then after that i dont know how the units change in the balance
any help??
please
Purchases
August 4 250 units at $13
August 15 350 units at $15
August 28 200 units at $14
Sales
August 7 150 units
August 11 100 units
August 17 300 units
August 24 200 units
determine the ending inventory balance and the value of cost of goods sold under:
a) weighted average method
b)fifo method
i tried this but i stil dont understand it properly
fifo especially like with the units in the balance
i got up to august 7th then after that i dont know how the units change in the balance
any help??
please





