XXXX=0107 TASK 2 (30 Marks) From the particulars of a construction site store room...
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XXXX=0107
TASK 2 (30 Marks) From the particulars of a construction site store room record, there was a opening stock of XXXX mT of steel in the inventory as on September 18 2021 at a cost of OMR 245 per m. Find the value of the closing stock at the end of the month (as on September 30 2021) using LIFO Method. The transactions entered in the store room record are as below. DATE TRANSACTION RECORDED 2nd September 2021 Purchased 320mT @ OMR 256 per mT 30 September 2021 Issued 465mT and purchased 100ml @ OMR 237per mT 6th September 2021 Issued 655mT 8th September 2021 Issued 420mT 12 September 2021 Purchased 440mT @ OMR 250 per mT 15 September 2021 Issued 320mT 16 September 2021 Issued 210mT 19h September 2021 Issued 480mT 22 September 2021 Purchased 850mT @ OMR 240 per mT 25 September 2021 Purchased 120mT @ OMR 245 per mT 27th September 2021 Issued 355mT 28th September 2021 Issued 250mT 29th September 2021 Issued 270mT 30th September 2021 Issued 150mT and purchased 500mT @ OMR 250per mT XXXX is the Last 4 Digits of your student number. For Example, if your student number is NU180122, then XXXX will be 0122 or 122mT TASK 2 (30 Marks) From the particulars of a construction site store room record, there was a opening stock of XXXX mT of steel in the inventory as on September 18 2021 at a cost of OMR 245 per m. Find the value of the closing stock at the end of the month (as on September 30 2021) using LIFO Method. The transactions entered in the store room record are as below. DATE TRANSACTION RECORDED 2nd September 2021 Purchased 320mT @ OMR 256 per mT 30 September 2021 Issued 465mT and purchased 100ml @ OMR 237per mT 6th September 2021 Issued 655mT 8th September 2021 Issued 420mT 12 September 2021 Purchased 440mT @ OMR 250 per mT 15 September 2021 Issued 320mT 16 September 2021 Issued 210mT 19h September 2021 Issued 480mT 22 September 2021 Purchased 850mT @ OMR 240 per mT 25 September 2021 Purchased 120mT @ OMR 245 per mT 27th September 2021 Issued 355mT 28th September 2021 Issued 250mT 29th September 2021 Issued 270mT 30th September 2021 Issued 150mT and purchased 500mT @ OMR 250per mT XXXX is the Last 4 Digits of your student number. For Example, if your student number is NU180122, then XXXX will be 0122 or 122mT
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