Meg Randall owns and operates a stationery shop in Midtown.

During the month of February 2013 she recorded

the following information:

Date Transaction Value

February 01 Opening Balance 100 @ $5
February 08 Purchased 140 @ $6
February 13 Sold 200 @ $10
February 18 Purchased 450 @ $7
February 27 Sold 300 @ $12
February 28 Sold 140 @ $15

(a) Using the stock form provided, determine the value of the stationery remaining in stock at February
28, 2013. Meg Ryan uses the FIFO method of stock valuation. (12 marks)

(b) Prepare a Trading Account for the month ending February 28, 2013. (5 marks)

(c) Name TWO other methods of stock valuation. (2 marks)

(d) Which method of stock valuation disbursed the most recent stock first? (1 mark)

Meg Randall owns and operates a stationery shop in Midtown. During the month of February 2013 she recorded
the following information:

Date Transaction Value

February 01 Opening Balance 100 @ $5
February 08 Purchased 140 @ $6
February 13 Sold 200 @ $10
February 18 Purchased 450 @ $7
February 27 Sold 300 @ $12
February 28 Sold 140 @ $15

(a) Using the stock form provided, determine the value of the stationery remaining in stock at February
28, 2013. Meg Ryan uses the FIFO method of stock valuation. (12 marks)

(b) Prepare a Trading Account for the month ending February 28, 2013. (5 marks)

(c) Name TWO other methods of stock valuation. (2 marks)

(d) Which method of stock valuation disbursed the most recent stock first? (1 mark)