From the following data compute the Cost of Goods Sold and Closing Inventory under FIFO, LIFO and…

From the following data compute the Cost of Goods Sold and Closing Inventory under FIFO, LIFO and WAC methods of inventory valuation:

Nov 1: Stock in hand 250 units @ Rs9 each

Purchases

Nov 2

(250 units @ Rs 11 each)

Nov 9

(500 units @ Rs 12 each)

Nov 17

(300 units @ Rs 10 each)

Nov 22

(250 units @ Rs 12 each)

Nov 29

(200 units @ Rs 13 each)

Issues

Nov 4

(200 units)

Nov 7

(250 units)

Nov 15

(450 units)

Nov 20

(250 units)

Nov 30

(300 units)

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