Page 230 - F1 Integrated Workbook STUDENT 2018
P. 230
Chaptter 14
Exxampple 2
Calculation off the cost oof inventoryy using FIFFO and aveerage costt
Thee following purchasess and saless took placce in Tyronne during thhe first fouur
dayys of June:
Dayy 1 Openinng inventorry nil
Dayy 1 Purchaase 200 units at $15 pper unit
Dayy 2 Purchaase 100 units at $18 pper unit
Dayy 3 Sales oof 250 unitss at $30 peer unit
Dayy 4 Purchaase 150 units at $20 pper unit
Reqquired:
Callculate thee cost of innventory aat the endd of day 4 for Tyronee using:
(a) the FIFOO method;;
(b) the averrage cost method.
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