Z Ltd had the following purchases of raw material X during the month of April:
April 4 Purchases-140 units@ $10 each
12 Purchases-60 units@ $12 each
16 Purchases-200 units@ $10 each
26 Purchases-50 units@ $12 each
Z Ltd had in stock at the beginning of April, 40 units of raw material X which they had purchased in March at a price of $10 each. At April 30, during the regular stock taking exercise, there were 90 units of raw material X on hand.

Calculate the value of the 90 units on hand using the following:
a. First in first out method
b. Last in first out

Question

Z Ltd had the following purchases of raw material X during the month of April:
April 4 Purchases-140 units@ $10 each
         12 Purchases-60 units@ $12 each
         16 Purchases-200 units@ $10 each
          26 Purchases-50 units@ $12 each
Z Ltd had in stock at the beginning of April, 40 units of raw material X which they had purchased in March at a price of $10 each. At April 30, during the regular stock taking exercise, there were 90 units of raw material X on hand.

Calculate the value of the 90 units on hand using the following:
a. First in first out method
b. Last in first out

goldrush18 · Answer

and c. weighted average method

anonymous · Answer

hi .
check the attached MS excel file .
fifo = first in first out = 900$
lifo = last in first out = 1000$
w.a = weighted average =940.40 $
hope it helps.