Q.3 S& Y Boutique has incurred the following transactions during the previous month; Beginning Inventory...
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Q.3 S& Y Boutique has incurred the following transactions during the previous month; Beginning Inventory 1st Purchase 2nd Purchase 3. Purchase Number of units Cost per unit 4 Rs. 1000 8 2000 6 3000 5 4000 Total Cost Rs. 4000 16000 18000 20000 Page 1 of 2 Available for sale 23 Rs. 58000 Units in Ending Inventory 13 Units Sold 10 Required: (10) Find the Ending Inventory and Cost of Goods Sold for the above Company using the following methods of Periodic Inventory System; a. First-in-First out method b. Last in First out method
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