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yarro plz jaldi iska answer da da request h opening inventory 100unit@1.75purchase 150unit @1.50issue 200unit @ purchase 300unit@1.60issue 150@using FIFO methodplz........ jaldi da do it's urgent plz.... anyone
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yarro plz jaldi iska answer da da request h opening inventory 100unit@...
Opening Inventory:
- Quantity: 100 units
- Purchase price: $1.75 per unit
Purchase:
- Quantity: 150 units
- Purchase price: $1.50 per unit
Issue:
- Quantity: 200 units
Purchase:
- Quantity: 300 units
- Purchase price: $1.60 per unit
Issue:
- Quantity: 150 units
FIFO Method:
FIFO (First-In, First-Out) method assumes that the first items purchased are the first ones to be sold or used. This method is commonly used to calculate the value of inventory.
Step 1: Calculate the value of the opening inventory
The opening inventory consists of 100 units purchased at $1.75 per unit.
Value of opening inventory = 100 units × $1.75 per unit = $175
Step 2: Calculate the value of the purchases
The first purchase consists of 150 units purchased at $1.50 per unit.
Value of first purchase = 150 units × $1.50 per unit = $225
The second purchase consists of 300 units purchased at $1.60 per unit.
Value of second purchase = 300 units × $1.60 per unit = $480
Total value of purchases = $225 + $480 = $705
Step 3: Calculate the value of the issues
The first issue consists of 200 units. According to the FIFO method, we assume that these 200 units are taken from the opening inventory and the first purchase.
Value of first issue = 100 units from opening inventory × $1.75 per unit + 100 units from first purchase × $1.50 per unit
= $175 + $150 = $325
The second issue consists of 150 units. According to the FIFO method, we assume that these 150 units are taken from the remaining 50 units of the first purchase and 100 units from the second purchase.
Value of second issue = 50 units from first purchase × $1.50 per unit + 100 units from second purchase × $1.60 per unit
= $75 + $160 = $235
Total value of issues = $325 + $235 = $560
Step 4: Calculate the closing inventory
To calculate the closing inventory, we need to subtract the total value of issues from the total value of purchases.
Closing inventory = Total value of purchases - Total value of issues
= $705 - $560 = $145
Therefore, the value of the closing inventory using the FIFO method is $145.
- Quantity: 100 units
- Purchase price: $1.75 per unit
Purchase:
- Quantity: 150 units
- Purchase price: $1.50 per unit
Issue:
- Quantity: 200 units
Purchase:
- Quantity: 300 units
- Purchase price: $1.60 per unit
Issue:
- Quantity: 150 units
FIFO Method:
FIFO (First-In, First-Out) method assumes that the first items purchased are the first ones to be sold or used. This method is commonly used to calculate the value of inventory.
Step 1: Calculate the value of the opening inventory
The opening inventory consists of 100 units purchased at $1.75 per unit.
Value of opening inventory = 100 units × $1.75 per unit = $175
Step 2: Calculate the value of the purchases
The first purchase consists of 150 units purchased at $1.50 per unit.
Value of first purchase = 150 units × $1.50 per unit = $225
The second purchase consists of 300 units purchased at $1.60 per unit.
Value of second purchase = 300 units × $1.60 per unit = $480
Total value of purchases = $225 + $480 = $705
Step 3: Calculate the value of the issues
The first issue consists of 200 units. According to the FIFO method, we assume that these 200 units are taken from the opening inventory and the first purchase.
Value of first issue = 100 units from opening inventory × $1.75 per unit + 100 units from first purchase × $1.50 per unit
= $175 + $150 = $325
The second issue consists of 150 units. According to the FIFO method, we assume that these 150 units are taken from the remaining 50 units of the first purchase and 100 units from the second purchase.
Value of second issue = 50 units from first purchase × $1.50 per unit + 100 units from second purchase × $1.60 per unit
= $75 + $160 = $235
Total value of issues = $325 + $235 = $560
Step 4: Calculate the closing inventory
To calculate the closing inventory, we need to subtract the total value of issues from the total value of purchases.
Closing inventory = Total value of purchases - Total value of issues
= $705 - $560 = $145
Therefore, the value of the closing inventory using the FIFO method is $145.
Community Answer
yarro plz jaldi iska answer da da request h opening inventory 100unit@...
it's answer is closing inventory =200x1.60=320
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yarro plz jaldi iska answer da da request h opening inventory 100unit@1.75purchase 150unit @1.50issue 200unit @ purchase 300unit@1.60issue 150@using FIFO methodplz........ jaldi da do it's urgent plz.... anyone
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yarro plz jaldi iska answer da da request h opening inventory 100unit@1.75purchase 150unit @1.50issue 200unit @ purchase 300unit@1.60issue 150@using FIFO methodplz........ jaldi da do it's urgent plz.... anyone for CA Foundation 2025 is part of CA Foundation preparation. The Question and answers have been prepared according to the CA Foundation exam syllabus. Information about yarro plz jaldi iska answer da da request h opening inventory 100unit@1.75purchase 150unit @1.50issue 200unit @ purchase 300unit@1.60issue 150@using FIFO methodplz........ jaldi da do it's urgent plz.... anyone covers all topics & solutions for CA Foundation 2025 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for yarro plz jaldi iska answer da da request h opening inventory 100unit@1.75purchase 150unit @1.50issue 200unit @ purchase 300unit@1.60issue 150@using FIFO methodplz........ jaldi da do it's urgent plz.... anyone.
yarro plz jaldi iska answer da da request h opening inventory 100unit@1.75purchase 150unit @1.50issue 200unit @ purchase 300unit@1.60issue 150@using FIFO methodplz........ jaldi da do it's urgent plz.... anyone for CA Foundation 2025 is part of CA Foundation preparation. The Question and answers have been prepared according to the CA Foundation exam syllabus. Information about yarro plz jaldi iska answer da da request h opening inventory 100unit@1.75purchase 150unit @1.50issue 200unit @ purchase 300unit@1.60issue 150@using FIFO methodplz........ jaldi da do it's urgent plz.... anyone covers all topics & solutions for CA Foundation 2025 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for yarro plz jaldi iska answer da da request h opening inventory 100unit@1.75purchase 150unit @1.50issue 200unit @ purchase 300unit@1.60issue 150@using FIFO methodplz........ jaldi da do it's urgent plz.... anyone.
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