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Inventory Valuation Sample Assignment

    Q.Calculate by FIFO method of inventory valuation, the cost of goods sold and value of ending inventory form the following data :

Date                              Transaction                    Units                    Price Per Unit
Jan.        1                    Opening stock              1,500                             20
Feb.       10                  Purchases                       750                              25
March     15                  Purchases                      600                               22
March    15                   Sold FIFO                     1,800                                _
April       10                   Sold FIFO                        750                                _
May        15                   Purchases                     600                                 25
June       10                  Sold FIFO                       750                                  _

Solution :

                                                 Stock Ledger Sheet (Assumption: FIFO)

Date	Receipts	Issued	Balance
1Jan.   10Feb.   15March   10April     15May   10June	_                      750 x 25 = 18,750   600 x 22 = 13,200                                                 _     600 x 25 = 1,500                                                _	_       37,500 17,850                                           _   17,850	30,000   48,750 24,450   6,600   21,600   3,750

Cost of goods sold = Rs. 37,500 +Rs. 17,850+17,850 = Rs. 73,200

Other Sample Assignments in Accounting Homework Assignment :

Calculate Cost of Land and Building	Calculate Depreciation
Calculate Depreciation By Equal	Calculate Depreciation Diminishing Balance
Calculate Depreciation Expense	Inventory Valuation
Calculate Cost Of Sale	Calculate Inventory And Profit
Fifo Lifo	Financial Statements profit and loss
Financal Statements

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