In: Accounting
Following information is available for the company.
Date |
Explanation |
Units |
Unit cost |
Total Cost |
1st of March 2012 |
Beginning inventory |
15,00 |
SR 7 |
SR 10500 |
5th March |
Purchases |
3,000 |
SR 8 |
24,000 |
13th March |
Purchases |
5,500 |
SR 9 |
49,500 |
21st march |
Purchases |
4,000 |
SR10 |
40,000 |
March 26 |
Purchases |
2,000 |
SR 11 |
22,000 |
Total |
16,000 |
135,500 |
Requirement: Total units the company sold are 1200. Find the Costs of goods sold for the company through FIFO, LIFO and Average method.