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    malami's Avatar
    malami Posts: 8, Reputation: 1
    New Member
    		  
    #1

    Jun 2, 2009, 10:02 AM
    FIFO metod of pricing
    Hi guys , I'm having problem with this question :confused::



    The following information relates to the recipts and issue of material X into stock during January 19X1.

    Date Receipts into stores Issue to production

    Quantity Price Value Quanity
    Units $ $ Units
    1.1.x1 100 10 1000 ?
    10.1.x1 150 11 1650 ?
    15.1.x1? 125
    20.1.x1 50 12 600 ?
    31.1.x1? 150

    Requred: Usinf FIFO metod of pricing the issue of goods to production , calculate :
    a) The issue prices at which goods will be changed to production ?
    b) The closing stock value at 31 Jan 19X1 ?


    Thank you !:p
    alami's Avatar
    alami Posts: 1, Reputation: 1
    New Member
    		  
    #2

    Jun 2, 2009, 06:51 PM

    you should write your question more clearer...
    answer the question using FIFO ledger format...
    based on my understanding
    the answer will be
    a) 100+275+1375+300 = 2050
    b) 300
    morgaine300's Avatar
    morgaine300 Posts: 6,561, Reputation: 276
    Uber Member
    		  
    #3

    Jun 2, 2009, 09:41 PM

    Well, she did, but it's over here:
    https://www.askmehelpdesk.com/accoun...ng-360626.html

    The two threads were originally back to back so I found it, but now they've gotten separated. So what she really should have done is put the more clear one tacked onto this same thread.

    However, I found the thing impossible to solve. You're welcome to give it a go and see if you find something I can't. :-)
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