02/ The following data industrial company for materials (X)1/2 Balance 1000 unit@10$1/5 Issued 500 unit1/9 purchase S00 unit @121/10 purchase 1000 unit @1425/11 Returen 200unit fram issued quantity 5/11/30 purchase 300 unit @15R)prepare the cost of materials used and the cost assigned to the ending inventory using(LiFo, weighted averge method)

First In First Out Method - In this method, units which are purchased firsts are supposed to be…

a2/ The following data industrial company for materials (X) 1/2 Balance :1000 unit@10$ 1/5 Issued 500 unit 1/9 purchase 500 unit @12 1/10 purchase 1000 unit @14 25/11 Returen 200unit from issued quantity 5/1 1/30 purchase 300 unit @15 R)prepare the cost of materials used and the cost assigned to the ending inventory using (LiFo, weighted averge method)

a2/ The following data industrial company for materials (X) 1/2 Balance :1000 unit@10$ 1/5 Issued 500 unit 1/9 purchase 500 unit @12 1/10 purchase 1000 unit @14 25/11 Returen 200unit from issued quantity 5/1 1/30 purchase 300 unit @15 R)prepare the cost of materials used and the cost assigned to the ending inventory using (LiFo, weighted averge method)

Principles of Cost Accounting

17th Edition

ISBN:9781305087408

Author:Edward J. Vanderbeck, Maria R. Mitchell

Publisher:Edward J. Vanderbeck, Maria R. Mitchell

Chapter2: Accounting For Materials

Section: Chapter Questions

Problem 8E: LIFO costing Using last-in, first-out perpetual inventory costing and the information presented in...

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