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LIFO method
Sales Rs.9,50,000
General administration cost Rs.25,000 Opening stock:1,00,000 litres @ Rs.3 per litre Rs.300000 Purchases (including frieght inward):- June1 2,00,000 [email protected] per litres June30 1,00,000 [email protected] per litres June30 closing stock 1,30,000 litres Q1)compute the vaule of inventory om June 30 using LIFO method of inventory costing. a) Rs.3,93,000 (b)Rs3,69,000 (c)Rs.2,97,000 (d)Rs.4,18,000 Q2)compute the amount of cost of goods sold for June using LIFO principle a)Rs7,80,000 (b)Rs.6,75,000 (c)Rs 8,15,000 (d)Rs.7,95,000 Solve it and tell me friends please don't tell direct answers... |
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