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Calculate the cost of goods sold and ending inventory

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Question - 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 ($) Units Per Unit Cost ($)

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.

Reference no: EM132044165

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