Solution-Find cost of good sold and closing stock

Find cost of good sold and closing stock

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Reference no: EM132598096

Pakistan Ltd Co. is using Periodic inventory system and EOQ for Inventory management.

Now Company wants to change from Periodic to Perpetual Inventory. Following is the data of Pakistan Ltd co. 2020.

January 5, Purchases 10,000 units @ Rs.10 per unit

February 2, Purchases 15,000 units @ Rs.12 per unit

March 20 , Purchases 30,000 units @Rs.10 per unit

June 27 , Purchases 20,000 units @ Rs.13 per unit

April 1, sales 48,000 units

June 30, Sales 15,000 units

Total requirement of first 6 months are 75,000 units ,carrying cost is 10%, ordering cost is Rs.20 per order, Average unit cost is Rs.12 per unit.

Requirement :

Question 1 - Find cost of good sold using FIFO and AVERAGE method by Periodic method.

Question 2 - Find Cost of good sold and Closing stock using Perpetual system using FIFO and Weighted Average methods.

Question 3 - Economic Order Quantity and Total cost

Reference no: EM132598096

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Find cost of good sold and closing stock

Reference no: EM132598096

Reference no: EM132598096

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