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Q. 1
Jamshed & company is a manufacturing concern. Following is the receipts & issues record for the
month of January, 2006
Date Receipts Issues
Jan 1 Opening Balance 50 @ 40
Jan 8 200 units @ Rs. 50/unit
Jan 11 60 units
Jan 13 150 units @ Rs. 60/unit
Jan 18 100 units @ Rs. 75/unit
Jan 20 150 units
Cost & Management Accounting (MGT-402) VU
(C) Copyright Virtual University of Pakistan 47
Prepare Inventory sheets under:
¾FIFO Method
¾LIFO Method
¾Weighted Average cost Method

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