also explain the difference in profits if any 649181
ABC Ltd. provides you the following information. Calculate the cost of goods sold and ending inventory applying the Last In First Out method of pricing raw materials under the Perpetual Inventory and Periodic Inventory Control System.
|
Date |
Particulars |
Units |
Per Unit Cost Rs. |
|
January 1 |
Opening Stock |
200 |
10 |
|
January 10 |
Purchases |
400 |
12 |
|
January 12 |
Withdrawals |
500 |
|
|
January 16 |
Purchases |
300 |
11 |
|
January 19 |
Issues |
200 |
|
|
January 30 |
Receipts |
100 |
15 |
Also explain the difference in profits if any.