Question

per unit
per unit
Q.7. At the beginning of January, 2013, Amit Limited had in stock 200 units
@ 25 per unit. Further information for the month of January is as follows:
January 2013
2 Purchases : 400 units @ 30 per unit
5
Sales : 300 units @ 40
10 Purchases : 500 units @ 735
15 Sales : 200 units @ 40 per unit
20 Sales : 200 units @ $42 per unit
25 Purchases : 600 units @ $36 per unit
28
Sales : 300 units @ 42 per unit
Calculate the cost of closing inventory and gross profit by FIFO method
under:
(i) Perpetual system of inventory
(ii) Periodic system of inventory
[2013

Answer 1

Answer:

january, 2020: 100 units @ Rs 5

12th January, 2020: 200 units @ Rs 4.50