From the following information, you are required to calculate the value of Ending Inventory and Cost of Goods Sold assuming (a) Perpetual System and (b) Periodic Inventory System under FIFO method.
|
Date |
Transactions |
Units |
Price per Unit Rs |
|
Jan 2,2009 |
Opening Balance brought forward |
100 |
10 |
|
Jan 9,2009 |
Purchases |
400 |
15 |
|
Jan 14, 2009 |
Sold |
300 |
|
|
Jan 25, 2009 |
Purchases |
500 |
20 |
|
Jan 29, 2009 |
Sold |
400 |