Material yr has fluctuated in price over period 10th april

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Reference no: EM13352126

Material YR has fluctuated in price over period 10^th April 2013 and the main accountant is unsure what price to cost the issues of materials to job 126. You are provided the following information:

Material YR (Kg) Cost (RM)

Apr-01 Opening Balance 40,000 80,000

Apr-04 Receipts 4000 RM5 per Kg

Apr-08 Receipts 15,000 RM2 per Kg

Apr-17 Issues 44,000

Apr-19 Receipts 17,000 RM4.50 per Kg

Apr-28 Issues 20,000

Required:

a) Cost the problems of materials on 17^th April and 28^th April to job 126 using LIFO and FIFO methods.

Reference no: EM13352126

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