X Ltd. and Y Ltd. has purchased and sold materials in the following order during March 2020: March 9 purchased 1000 units at ₹42 each March 19 purchased 5000 unit at₹ 51 each March 23 purchased 3000 unit at ₹ 49 each March 31 Sold 7900 units at ₹ 59 each You are required to compute the value of closing inventory according to FIFO and LIFO method Also ascertain the cost of goods sold and the amount of profit under each method .?

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This discussion on X Ltd. and Y Ltd. has purchased and sold materials in the following order during March 2020: March 9 purchased 1000 units at ₹42 each March 19 purchased 5000 unit at₹ 51 each March 23 purchased 3000 unit at ₹ 49 each March 31 Sold 7900 units at ₹ 59 each You are required to compute the value of closing inventory according to FIFO and LIFO method Also ascertain the cost of goods sold and the amount of profit under each method .? is done on EduRev Study Group by B Com Students. The Questions and Answers of X Ltd. and Y Ltd. has purchased and sold materials in the following order during March 2020: March 9 purchased 1000 units at ₹42 each March 19 purchased 5000 unit at₹ 51 each March 23 purchased 3000 unit at ₹ 49 each March 31 Sold 7900 units at ₹ 59 each You are required to compute the value of closing inventory according to FIFO and LIFO method Also ascertain the cost of goods sold and the amount of profit under each method .? are solved by group of students and teacher of B Com, which is also the largest student community of B Com. If the answer is not available please wait for a while and a community member will probably answer this soon. You can study other questions, MCQs, videos and tests for B Com on EduRev and even discuss your questions like X Ltd. and Y Ltd. has purchased and sold materials in the following order during March 2020: March 9 purchased 1000 units at ₹42 each March 19 purchased 5000 unit at₹ 51 each March 23 purchased 3000 unit at ₹ 49 each March 31 Sold 7900 units at ₹ 59 each You are required to compute the value of closing inventory according to FIFO and LIFO method Also ascertain the cost of goods sold and the amount of profit under each method .? over here on EduRev! Apart from being the largest B Com community, EduRev has the largest solved Question bank for B Com.
This discussion on X Ltd. and Y Ltd. has purchased and sold materials in the following order during March 2020: March 9 purchased 1000 units at ₹42 each March 19 purchased 5000 unit at₹ 51 each March 23 purchased 3000 unit at ₹ 49 each March 31 Sold 7900 units at ₹ 59 each You are required to compute the value of closing inventory according to FIFO and LIFO method Also ascertain the cost of goods sold and the amount of profit under each method .? is done on EduRev Study Group by B Com Students. The Questions and Answers of X Ltd. and Y Ltd. has purchased and sold materials in the following order during March 2020: March 9 purchased 1000 units at ₹42 each March 19 purchased 5000 unit at₹ 51 each March 23 purchased 3000 unit at ₹ 49 each March 31 Sold 7900 units at ₹ 59 each You are required to compute the value of closing inventory according to FIFO and LIFO method Also ascertain the cost of goods sold and the amount of profit under each method .? are solved by group of students and teacher of B Com, which is also the largest student community of B Com. If the answer is not available please wait for a while and a community member will probably answer this soon. You can study other questions, MCQs, videos and tests for B Com on EduRev and even discuss your questions like X Ltd. and Y Ltd. has purchased and sold materials in the following order during March 2020: March 9 purchased 1000 units at ₹42 each March 19 purchased 5000 unit at₹ 51 each March 23 purchased 3000 unit at ₹ 49 each March 31 Sold 7900 units at ₹ 59 each You are required to compute the value of closing inventory according to FIFO and LIFO method Also ascertain the cost of goods sold and the amount of profit under each method .? over here on EduRev! Apart from being the largest B Com community, EduRev has the largest solved Question bank for B Com.