3. Modern Furniture Company sold 2,250 Tables during 2019 at Rs 40,000 each.

It had a beginning inventory on January 1, 201

March 500 tables @ Rs 27,500; June 250 tables @ Rs 30,000; August 750 tables @ Rs 32,500; November 500 tables @ Rs 35,0
Required:
A. Prepare a schedule to compute the cost of goods available for sale during the year.
B. Determine the ending inventory on December 31, 2019 and cost of goods sold using (a) FIFO, (b) LIFO and (c) WAC
ng inventory on January 1, 2019 of 500 tables at a cost of Rs 25,000 each. The following purchases were made during the year ended Dece
ovember 500 tables @ Rs 35,000. The company uses the periodic inventory system.

(b) LIFO and (c) WAC

de during the year ended December 31, 2019: