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  • Tutorial 2b

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    Edrizz Riz
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    The document contains details of purchases, issues, and stock balances of items using the FIFO costing method over two periods (May 30-31 and April 30-May 31). For the first period, the opening stock was 200 units at RM7.5 per unit. Various purchases and issues were recorded throughout the period, resulting in a closing stock of 370 units valued at RM2,490. For the second period, the opening stock was 4,500 units at RM5.5 per unit. Multiple purchases and sales were recorded, with a final closing stock of 3,000 units valued at RM18,450.

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    The document contains details of purchases, issues, and stock balances of items using the FIFO costing method over two periods (May 30-31 and April 30-May 31). For the first period, the opening stock was 200 units at RM7.5 per unit. Various purchases and issues were recorded throughout the period, resulting in a closing stock of 370 units valued at RM2,490. For the second period, the opening stock was 4,500 units at RM5.5 per unit. Multiple purchases and sales were recorded, with a final closing stock of 3,000 units valued at RM18,450.

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    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
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    8 views4 pages

    Tutorial 2b

    Uploaded by

    Edrizz Riz
    The document contains details of purchases, issues, and stock balances of items using the FIFO costing method over two periods (May 30-31 and April 30-May 31). For the first period, the opening stock was 200 units at RM7.5 per unit. Various purchases and issues were recorded throughout the period, resulting in a closing stock of 370 units valued at RM2,490. For the second period, the opening stock was 4,500 units at RM5.5 per unit. Multiple purchases and sales were recorded, with a final closing stock of 3,000 units valued at RM18,450.

    Copyright:

    © All Rights Reserved
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    of 4

    QUESTION 2 (JULY 2020)

    ANSWER Qi.
    METHOD: FIFO
    RECEIPTS ISSUES STOCK BALANCE
    DATE DETAIL QUANTITY CPU AMOUNT QUANTITY CPU AMOUNT QUANTITY CPU AMOUNT
    Unit RM RM Unit RM RM Unit RM RM
    30/12 BALANCE 200 7.5 1,500

    03/05 PURCHASE 400 8 3,200 200 7.5 1,500

    400 8 3,200

    07/05 PRODUCE 200 7.5 1,500 300 8 2,400

    100 8 800

    09/05 PRODUCE 200 8 1,600 100 8 800

    22/05 PURCHASE 400 7 2,800 100 8 800

    400 7 2,800

    23/05 RETURN TO SUPPLIER 5 7 35 100 8 800

    395 7 2,765

    25/05 PRODUCE 100 8 800 195 7 1,365

    200 7 1,400

    28/05 PURCHASE 200 6.5 1,300 195 7 1,365


    200 6.5 1,300

    29/05 THROWN 15 7 105 180 7 1,260

    200 6.5 1,300

    31/05 STOCK LOSS 10 7 70 170 7 1,1900

    200 6.5 1,300

    CLOSING STOCK 370 2,490

    RECEIPTS ISSUES STOCK BALANCE


    DATE DETAIL QUANTITY CPU AMOUNT QUANTITY CPU AMOUNT QUANTITY CPU AMOUNT
    Unit RM RM Unit RM RM Unit RM RM
    30/04 BALANCE 200 7.5 1,200

    03/05 PURCHASE 400 8 3,200 600 7.83 4,700

    07/05 SOLD 300 7.83 2,349 300 7.83 2,349

    09/05 SOLD 200 7.83 1,566 100 7.83 783

    22/05 PURCHASE 400 7 2,800 500 7.17 3,583

    23/05 RETURN TO SUPPLIER 5 7 35 595 5.96 3,548

    25/05 SOLD 300 5.96 1,788 295 5.96 1,758.20

    28/05 PURCHASE 200 6.5 1,300 495 6.18 3,058

    29/05 THROWN 15 6.18 89.4 480 6.18 2,966.40


    31/05 STOCK LOSS 110 6.18 679.8 370 6.18 2,286.6

    CLOSING STOCK 370 2,286.60

    ANSWER Qii.
    QUESTION 3 (JUNE 2018) QUESTION 2A

    RECEIPTS ISSUES STOCK BALANCE


    DATE DETAIL QUANTITY CPU AMOUNT QUANTITY CPU AMOUNT QUANTITY CPU AMOUNT
    Unit RM RM Unit RM RM Unit RM RM
    01/05 BALANCE 4,500 5.5 24,750

    03/05 SOLD 1,800 5.5 9,900 2,700 5.5 14,850

    05/05 PURCHASE 2,300 5.8 13,340 5,000 5.64 28,190

    07/05 PURCHASE 1,800 5.9 10,620 6,300 5.71 38,810

    09/05 SOLD 5,700 5.71 32,547 1,100 5.71 6,281

    10/05 PURCHASE 1,700 6 10,200 2,800 5.89 16,481

    13/05 RETURN TO SUPPLIER 200 6 1,200 2,600 5.88 15,281

    18/05 SOLD 2,100 5.88 12,348 500 5.88 2,940

    21/05 PURCHASE 2,000 6.1 12,200 2,500 6.06 15,140

    25/05 SOLD 1,300 6.06 7,878 1,200 6.06 7,272

    28/05 PURCHASE 2,500 6.2 15,500 3,700 6.15 22,772


    30/05 SOLD 500 6.15 3,075 3,200 6.15 19,680

    31/05 STOCK LOSS 200 6.15 1,230 3,000 6.15 18,450

    31/05 CLOSING STOCK 3,000 18,450

    ANSWER.

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