O Clong Stock /U units U RS. 3 - RS. 210)
58. From the data given below, answer the following:
(a) What is the simple average price of the four weeks' receipts of material A ?
(b) What is the weighted average price of the four weeks' receipts of material B?
(c) What is the value of the balance of material A in stock at the close of the fourth
week if issues are priced on LIFO basis?
(d) What is the value of the fourth weeks issues of material B, if they are priced on
FIFO basis?
Issued
A
Raw Material Received
B
Rs.
kg.
Rs.
Week
kg.
А A
kg.
B
Rs.
1st
2nd
3rd
4th
250
300
200
250
1,000
1,260
880
960
1.250
1,400
750
1,600
1,690
1,960
1,050
2,400
175
250
300
300
1,500
1,200
1,300
1,100
Stores opening stocks: A - 200 kg., Rs. 720; B - 2,000 kg., Rs. 2,900.
(I.C.W.A. Inter)
Answers
Answer:
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Explanation:
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