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Question: A business commenced on 1st January and purchases are made as follows:

Month No. of Units Unit Price Value

1st Jan 380 2.00 760 1st Feb 400 2.50 1000

2nd Feb 200 700 1st Mar 350 2.50 875

27th Mar 300 1000 1st April 420 2.75 1155

1st May 430 3.00 1290

4th May 300 1200

1st June 440 3.25 1430

30th June 400 1500 1.

Calculate the closing inventory and cost per unit using both fifo and avco .2 prepare the income statement and balance sheet under fifo and avco method.

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Basic Finance, Finance

Category:- Basic Finance
Reference No.:- M92788761

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