ABC Ltd.

Provides you with the following information :

- 1.1.2019 Opening Stock 100 units @ Re 1.
- 2.1.2019 Purchased 400 units @ Rs 1.50.
- 3.1.2019 Issued 450 units.
-4.1.2019 Purchase 500 units @ Re 2.06.
-5.1.2019 issued 300 units.
REQUIRED : Compute the value of inventory under FIFO M
Compute the value of COGS?
Compute the Closing Stock value ?
ormation :

y under FIFO Method

ue ?
 ABC'S STORE LEDGER ACCOUNT (FIFO)
INVENTORY IN INVENTORY OUT
DATE
Unit Price QTY Value Unit Price QTY Value
01.01.2019
02.01.2019 1.5 400 600

03.01.2019 1 100 100

1.5 350 525
04.01.2019 2.06 500 1030

05.01.2019 1.5 50 75
2.06 250 515
750 1215
(FIFO)
INVENTORY STATUS
Unit Price QTY Value
1 100 100
1 100 100
1.5 400 600
COGS 1215
1.5 50 75 closing Stock 515
1.5 50 75
2.06 500 1030

2.06 250 515