FIFO Method Question

by Ritu Mehan
(Ludhiana, Punjab, India)

Date Particulars Units Rate

01.03.09 opening stock 100 $1.75
05.03.09 purchased 150 $1.50
12.03.09 purchased 300 $1.60
08.03.09 issued 200 $ ?
18.03.09 issued 250 $ ?

Assuming this business used the FIFO method, what would the rates be for the above issues of inventory?



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Return to the main tutorial on FIFO and LIFO Accounting and the Weighted Average Cost Method

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