Prepare a statement showing how the issues would be priced under LIFO method:
|
1998 |
||
|
1 February |
Opening balance |
100 units at Rs 10 each |
|
1 February |
Received |
200 units at Rs 10.50 each |
|
2 February |
Received |
300 units at Rs 10.60 each |
|
4 February |
Issued |
400 units to job A |
|
6 February |
Issued |
120 units to job K |
|
7 February |
Received |
400 units at Rs 11 each |
|
10 February |
Issued |
200 units at job B |
|
12 February |
Received |
400 units at Rs 11.50 each |
|
17 February |
Issued |
300 units to job D |