while preparing the final accounts on mar 31 2009 bisma had 1 300 units of raw mater 608161

Aug 29, 2021 | Uncategorized

Bisma purchased raw materials during the month of Mar 2009 as stated below:

Mar 3

800 units @ Rs 60 per unit

Mar 7

1,200 units @ Rs 55 per unit

Mar 10

2,500 units @ Rs 57 per unit

Mar 17

3,000 units @ Rs 54 per unit

Mar 26

1,500 units @ Rs 58 per unit

Mar 30

1,000 units @ Rs 63 per unit

While preparing the final accounts on Mar 31, 2009, Bisma had 1,300 units of raw materials in his godown. You are requested to calculate the value of Closing Stock of raw materials according to FIFO and WAP methods.