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The following are the stock movements of a new stock item RK21:????
Receipts ?Issues????(units)?(units)
?01 April? 2,000 at £6 each
?06 April? 3,000 at £7 each
?12 April ?3,000 at £7.50 each
?17 April ??5,000
?24 April? 4,000 at £8.00 each
?27 April ??5,000
?There was no opening stock.
Problem ?a)? Prepare stock cards for stock item RK21 showing the value of each of the two issues and the value of ?closing stock using EACH of the following stock pricing methods:
??i? FIFO ???ii ?LIFO??iii? AVCO
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