5.

8
FIFO
Purchase Sales Balance
Date Units Cost P.U Total Cost Units Cost P.U Total Cost Units Cost P.U
1 40.00 70.00
3 80.00 71.00 5,680.00 40.00 70.00
80.00 71.00
8 40.00 70.00 2,800.00 30.00 71.00
50.00 71.00 3,550.00
10 10.00 71.00 710.00 20.00 71.00
15 40.00 73.00 2,920.00 20.00 71.00
40.00 73.00
17 20.00 71.00 1,420.00 10.00 73.00
30.00 73.00 2,190.00
21 30.00 74.00 2,220.00 10.00 73.00
30.00 74.00
26 30.00 76.00 2,280.00 10.00 73.00
30.00 74.00
30.00 76.00
28 10.00 73.00 730.00 20.00 74.00
10.00 74.00 740.00 30.00 76.00

LIFO
Purchase Sales Balance
Date Units Cost P.U Total Cost Units Cost P.U Total Cost Units Cost P.U
1 40.00 70.00
3 80.00 71.00 5,680.00 40.00 70.00
80.00 71.00
8 80.00 71.00 5,680.00 30.00 70.00
10.00 70.00 700.00
10 10.00 70.00 700.00 20.00 70.00
15 40.00 73.00 2,920.00 20.00 70.00
40.00 73.00
17 40.00 73.00 2,920.00 10.00 70.00
10.00 70.00 700.00
21 30.00 74.00 2,220.00 10.00 70.00
30.00 74.00
26 30.00 76.00 2,280.00 10.00 70.00
30.00 74.00
30.00 76.00
28 20.00 76.00 1,520.00 10.00 76.00
30.00 74.00
10.00 70.00
 Journal entries
Date Particulars L.F Debit (Rs.) Credit (Rs.)
8-Nov Rohini Co A/c dr 8100
To Sales A/c 8100
(Being Goods Sold on Credit)
26-Nov Purchase A/c dr 2280
To Tanvir Co A/c 2280
(Being Goods Purchased on Credit)

1. The beginning inventory Purchases and Sales of Omega Company are as follows
   July 1st     Beginning Inventory 30 Units @ Rs.80
          4th      Purchases                       50 units @ Rs. 82
          8th      Sales                               45 units
          12th     Purchases                      70 units @ 90
         17th      Sales                              90 units
         24th      Purchases                      100 Units @ 100
         27th      Sales                              85 units
          30th     Purchases                      105 units @ 120 

FIFO
Purchase Sales Balance
Date Units Cost P.U Total Cost Units Cost P.U Total Cost Units Cost P.U
1-Jul 30.00 80.00
4-Jul 50.00 82.00 4,100.00 30.00 80.00
50.00 82.00
8-Jul 30.00 80.00 2,400.00 35.00 82.00
15.00 82.00 1,230.00
12-Jul 70.00 90.00 6,300.00 35.00 82.00
70.00 90.00
17-Jul 35.00 82.00 2,870.00 15.00 90.00
55.00 90.00 4,950.00
24-Jul 100.00 100.00 10,000.00 100.00 100.00
15.00 90.00
27-Jul 15.00 90.00 1,350.00 30.00 100.00
70.00 100.00 7,000.00
30-Jul 105.00 120.00 12,600.00 105.00 120.00
30.00 100.00

LIFO
Purchase Sales Balance
Date Units Cost P.U Total Cost Units Cost P.U Total Cost Units Cost P.U
1-Jul 30.00 80.00
4-Jul 50.00 82.00 4,100.00 30.00 80.00
50.00 82.00
8-Jul 45.00 82.00 3,690.00 5.00 82.00
30.00 80.00
12-Jul 70.00 90.00 6,300.00 70.00 90.00
5.00 82.00
30.00 80.00
17-Jul 70.00 90.00 6,300.00 15.00 80.00
5.00 82.00 410.00
15.00 80.00 1,200.00
24-Jul 100.00 100.00 10,000.00 15.00 80.00
100.00 100.00
27-Jul 85.00 100.00 8,500.00 15.00 100.00
15.00 80.00
30-Jul 105.00 120.00 12,600.00 105.00 120.00
15.00 100.00
15.00 80.00

WAC
Purchase Sales Balance
Date Units Cost P.U Total Cost Units Cost P.U Total Cost Units Cost P.U
1-Jul 30.00 80.00
4-Jul 50.00 82.00 4,100.00 80.00 81.25
8-Jul 45.00 81.25 3,656.25 35.00 81.25
12-Jul 70.00 90.00 6,300.00 105.00 87.10
17-Jul 90.00 87.10 7,839.00 15.00 87.10
24-Jul 100.00 100.00 10,000.00 115.00 98.32
27-Jul 85.00 98.32 8,357.20 30.00 98.32
30-Jul 105.00 120.00 12,600.00 135.00 115.18
Balance
Total cost
2,800.00
2,800.00
5,680.00
2,130.00

1,420.00
1,420.00
2,920.00
730.00

730.00
2,220.00
730.00
2,220.00
2,280.00
1,480.00
2,280.00
3,760.00

Balance
Total cost
2,800.00
2,800.00
5,680.00
2,100.00

1,400.00
1,400.00
2,920.00
700.00

700.00
2,220.00
700.00
2,220.00
2,280.00
760.00
2,220.00
700.00
 3,680.00

Credit (Rs.)

8100

2280

Balance
Total cost
2,400.00
2,400.00
4,100.00
2,870.00

2,870.00
6,300.00
1,350.00

10,000.00
1,350.00
3,000.00

12,600.00
3,000.00
15,600.00

Balance
Total cost
2,400.00
2,400.00
4,100.00
 410.00
2,400.00
6,300.00
410.00
2,400.00
1,200.00

1,200.00
10,000.00
1,500.00
1,200.00
12,600.00
1,500.00
1,200.00
15,300.00

Balance
Total cost
2,400.00
6,500.00 81.25
2,843.75
9,145.50 87.08333
1,306.50
11,306.80 98.32
2,949.60
15,549.30 115.18