The following information is given for receipts and issues of a material in the month of March, 2019. Date Description Quantity (kg) Rate (₹) 1 March Receipt 400 5.00 5 March Receipt 600 6.00 8 March Issue 700 - 20 March
CS Executive · Cost and Management Accounting · PYQS · June 2019
The following information is given for receipts and issues of a material in the month of March, 2019. Date Description Quantity (kg) Rate (₹) 1 March Receipt 400 5.00 5 March Receipt 600 6.00 8 March Issue 700 - 20 March Receipt 500 4.50 30 March Issue 600 - What is the value of closing stock under FIFO and LIFO method?
Answer & Explanation:
Correct Answer: Option (D)
Official answer key: (D).
Topics: Material Cost
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