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Prepare inventory ledger card under lifo

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Question 1: Prepare Inventory ledger card under LIFO, FIFO and Weighted Average assumption also find closing inventory and CGS under each method and record necessary Journal Entries.

                     Receipt                Unit                      Rate Amount

Jan 1.   Inventory in hand        200                  @Rs.7 Rs 1400
Jan 8.     Purchases                 1100              @Rs.8 Rs 8800
Jan 25.      Purchases                300                @Rs.9. Rs 2700
Jan 31          Purchases            400             @Rs.10 Rs 4000

Issued

Jan.1              Sale                    100              @ Rs. 15 Rs.1500
Jan.9              Sale                     200              @ Rs. 15 Rs.3000
Jan.15            Sale                      400             @ Rs. 15 Rs.6000
Jan.27            Sale                      600                  @ Rs. 15 Rs.9000

Reference no: EM132597112

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