XYZ Ltd. had 4,000 units of inventory in hand on 1 st March, 2016, costing ₹4 per unit. Purchases and issues of material during the month were as follows: Date Purchase Issue March 8 500 units @ ₹5 per unit — March 15 —
CS Executive · Cost and Management Accounting · PYQS · June 2016
XYZ Ltd. had 4,000 units of inventory in hand on 1 st March, 2016, costing ₹4 per unit. Purchases and issues of material during the month were as follows: Date Purchase Issue March 8 500 units @ ₹5 per unit — March 15 — 2,000 units March 20 6,000 units @ ₹6 per unit — March 28 — 4,000 units The cost of inventory as on 31 st March, 2016 under FIFO and weighted average cost method will be —
Answer & Explanation:
Correct Answer: Option (A)
Official answer key: (A).
Topics: Inventory Management
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