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Determine cost of units used and value of the closing stock

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Reference no: EM132166954

ACCOUNTING ASSIGNMENT -

The following purchases were made in ABC Ltd during the month of January 2015.

Date of purchase

Units purchased

Price/unit

1st January

500

100

2nd January

600

200

3rd January

800

400

Units used on 4th January are 900. Determine the value/cost of units used by using FIFO, LIFO and weighted average.

Required: Determine the cost of units used and the value of the closing stocks using FIFO, LIFO and Weighted Average.

Reference no: EM132166954

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