MGT402 - Cost & Management Accounting Assignment 1 Solution

[Ahsan Gujjar]

QUESTION:-

Following information has been extracted from books of the company for inventory
records during January.
January 5: purchased 900 gallons @ Rs. 59 per gallon.
January 9: issued 650 gallons to job #20
January 11: 150 gallons deteriorated in quality and transferred to obsolete stock.
January 27: Returned to supplier 80 gallons purchased on January 5.

Required:
Prepare Material Ledger Card under FIFO costing method

SOLUTION:

ABC Company

On January 1st,

Material Ledger Card (FIFO)

 

Date	Purchase			Issue					Inventory
	Unit	Unit Cost	Total	Unit		Unit Cost	Total		Unit	Unit Cost		Total
ADD
1st  January	215	45	9675						215	45		9675
5th January	900	59	53100						900	59		53100
Total	1115		62775
SUBTRACT
9th January				215		45	9675
				435		59	25665
11th January				150		59	8850		150	59		8850
27th January				80		59	4720		80	59		4720
	Total			880			48910
	Subtract
	(Purchase – Issue)			235	NIL			13875	1345		NIL		76345

 

[+ M.Tariq Malik]

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[Nabeel Shahid]

Brother ,how to calculate the cost of good sold 

[Ahsan Gujjar]

This is half solution of assignment. copy this and must to include C.G.S for the completion of assignment with own understanding.

[Shoaib Nawaz]

give me complete solution

[+ M.Tariq Malik]

MGT402 Assignment#01 Solution 

[+ M.Tariq Malik]

MGT402 Assignment#01 Solution

Mgt4021stassignmentSol.docx

[Shoaib Nawaz]

give me complete and relevant solution

[Zaheer Bashir]

[+ M.Tariq Malik]

Zaheer Bashir  

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