The stock issues of a manufacturer for the months June to August inclusive were as follows: Date Activities Quantity (units) Cost per unit (RM) Value of stock (RM) June 1 Balance 200 2.00 400 15 Purchases 100 1.95 30 Purchases 200 2.10 Issues 150 July 1 Balance 350 21 Purchases 200 2.15 30 Issues 200 August 1 Balance 350 10 Purchases 150 2.20 21 Purchases 100 2.20 31 Issues 250 Required: Write up a stock ledger card for the months June to August and calculate the value of stock on 1st September in terms of FIFO, LIFO and AVCO method.

The stock issues of a manufacturer for the months June to August inclusive were as follows: Date Activities Quantity (units) Cost per unit (RM) Value of stock (RM) June 1 Balance 200 2.00 400 15 Purchases 100 1.95 30 Purchases 200 2.10 Issues 150 July 1 Balance 350 21 Purchases 200 2.15 30 Issues 200 August 1 Balance 350 10 Purchases 150 2.20 21 Purchases 100 2.20 31 Issues 250 Required: Write up a stock ledger card for the months June to August and calculate the value of stock on 1st September in terms of FIFO, LIFO and AVCO method.

College Accounting, Chapters 1-27

23rd Edition

ISBN:9781337794756

Author:HEINTZ, James A.

Publisher:HEINTZ, James A.

Chapter24: Analysis Of Financial Statements

Section: Chapter Questions

Problem 6CE

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Date	Activities	Quantity (units)	Cost per unit (RM)	Value of stock (RM)
June 1	Balance	200	2.00	400
15	Purchases	100	1.95
30	Purchases	200	2.10
	Issues	150

July 1	Balance	350
21	Purchases	200	2.15
30	Issues	200

August 1	Balance	350
10	Purchases	150	2.20
21	Purchases	100	2.20
31	Issues	250