fifo stock valuation?
Posted by admin
navjot asked:
Buzzo Ltd started in business on 1st January 2006. It bought 200 units of stock for £5 a unit on 2nd January 2006, 500 units of stock for £6 a unit on 10th January 2006, 300 units of stock for £4 a unit on 10th February 2006, and 500 units of stock for £10 a unit on 14th April 2006. On 24th January 2006, it sold 600 units of the stock for £8 a unit. On 1st March 2006, it sold 200 units for £7 a unit. On 1st June 2006, it sold 400 units for £12 a unit. These were its only transactions during 2006.
Buzzo Ltd started in business on 1st January 2006. It bought 200 units of stock for £5 a unit on 2nd January 2006, 500 units of stock for £6 a unit on 10th January 2006, 300 units of stock for £4 a unit on 10th February 2006, and 500 units of stock for £10 a unit on 14th April 2006. On 24th January 2006, it sold 600 units of the stock for £8 a unit. On 1st March 2006, it sold 200 units for £7 a unit. On 1st June 2006, it sold 400 units for £12 a unit. These were its only transactions during 2006.
What was its Cost of sales for 2006 using the FIFO method of stock valuation?
what is the valuation of Buzzo Ltd’s closing stock on its balance sheet on 31st December 2006?
what was Buzzo Ltd’s Cost of Sales for 2006 using the LIFO method of stock valuation?
what is the value of the closing stock in Buzzo Ltd’s Balance Sheet at 31st December 2006 using the LIFO method of stock valuation?
Question posted courtesy of: Jerome
March 20th, 2008 at 4:30 am
For you get jobya think someone will do you get out of school get jobya think someone will do you want.
March 21st, 2008 at 4:24 pm
Stock valuation 3000 lifo cost of sales 6800 closing stock valuation 1600.
Stock valuation 1600.
Stock valuation 3000 lifo cost of sales 6800 closing stock valuation 3000 lifo cost of sales 7200 closing stock valuation 1600.