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“Mr. Daood is an owner of two stores situated at different locations. For costing the sold units, store “M” follows the First- In-First-Out (FIFO) method while store “N” follows the Last- In-First-Out (LIFO) method. On 1st November, both stores have the same quantity in stock that is 8,000 units at Rs. 24.00 per unit. On 12th November, both stores received the supply of 7,000 units at Rs. 25.50 per unit. Sales made by both the stores on 24th of November are 9,800 units at Rs. 26.00 per unit individually”

Required:

Keeping in view the above situation answer the following questions:
(i) Profit earned by the store “M” during the month of November is Rs.__________.
(ii) Profit earned by the store “N” during the month of November is Rs.__________.
(iii) Value of Stock at the end of the month maintained by the store “M” is Rs.__________. 
(iv) Value of Stock at the end of the month maintained by the store “N” is Rs.__________. 

Just provide your final answers in the given pattern. Avoid for providing details of formulas and calculations

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LAST DATE 14 NOVEMBER

 

Keeping in view the above situation answer the following questions:

(i)                  Profit earned by the service station “M” during the month of November is Rs.16900

(ii)                Profit earned by the service station “N” during the month of November is Rs.9100

(iii)               Value of Stock at the end of the month maintained by the store “M” is Rs.132600

(iv)           Value of Stock at the end of the month maintained by the store “N” is Rs.124800

 

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here is the solution

solution:
1: Profit earned by the service station “M” during the month of November is Rs.16900
2: Profit earned by the service station “N” during the month of November is Rs.9100
3: Value of Stock at the end of the month maintained by the store “M” is Rs.132600
4: Value of Stock at the end of the month maintained by the store “N” is Rs.124800

Asalamualikum. plz guide me, I m confused between both of the solution. Which one is rite?

 

(i)            Profit earned by the service station “M” during the month of November is Rs.16900

(ii)           Profit earned by the service station “N” during the month of November is Rs.9100

(iii            Value of Stock at the end of the month maintained by the store “M” is Rs.132600

(iv)          Value of Stock at the end of the month maintained by the store “N” is Rs.124800

 

 

                                                                OR

 

(i)            Profit earned by the service station “M” during the month of November is Rs.16900

(ii)           Profit earned by the service station “N” during the month of November is Rs.7100

(iii            Value of Stock at the end of the month maintained by the store “M” is Rs.132600

(iv)          Value of Stock at the end of the month maintained by the store “N” is Rs.148800

Keeping in view the above situation answer the following questions:

(i)                  Profit earned by the service station “M” during the month of November is Rs.16900

(ii)                Profit earned by the service station “N” during the month of November is Rs.9100

(iii)               Value of Stock at the end of the month maintained by the store “M” is Rs.132600

(iv)           Value of Stock at the end of the month maintained by the store “N” is Rs.124800

 

For the M
Sales=8000*26+1800*26.00=254800
Costs=8000*24+1800*25.50=237900
Profit= sales - costs =16900
Value of stock at the end of the month=(7000-1800)*25.50=132600

For the N
Sales=7000*26+1800*26.00=228800
Costs=7000*25.50+1800*24=221700
Profit= Sales - Costs =7100
Value of stock at the end of the month=(8000-1800)*24=148800

1: Profit earned by the service station “M” during the month of November is Rs.16900
2: Profit earned by the service station “N” during the month of November is Rs.7100
3: Value of Stock at the end of the month maintained by the store “M” is Rs.132600
4: Value of Stock at the end of the month maintained by the store “N” is Rs.148800

“Mr. Daood is an owner of two stores situated at different locations. For costing the sold units, store “M” follows the First- In-First-Out (FIFO) method while store “N” follows the Last- In-First-Out (LIFO) method. On 1st November, both stores have the same quantity in stock that is 8,000 units at Rs. 24.00 per unit. On 12th November, both stores received the supply of 7,000 units at Rs. 25.50 per unit. Sales made by both the stores on 24th of November are 9,800 units at Rs. 26.00 per unit individually”

 16000+

Required:

 

Keeping in view the above situation answer the following questions:

(i)         Profit earned by the store “M” during the month of November is   Rs.__16,900___.

(ii)            Profit earned by the store “N” during the month of November is Rs.___9,100___.

(iii)          Value of Stock at the end of the month maintained by the store “M” is Rs._132,600 __.

(iv)           Value of Stock at the end of the month maintained by the store “N” is Rs.__124,800__. 

 

i cannt undrsnd which one is true now post only ture solution

100% solved GDB 01 


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“Mr. Daood is an owner of two stores situated at different locations. For costing the sold units, store “M” follows the First- In-First-Out (FIFO) method while store “N” follows the Last- In-First-Out (LIFO) method. On 1st November, both stores have the same quantity in stock that is 8,000 units at Rs. 24.00 per unit. On 12th November, both stores received the supply of 7,000 units at Rs. 25.50 per unit. Sales made by both the stores on 24th of November are 9,800 units at Rs. 26.00 per unit individually”

Required:

Keeping in view the above situation answer the following questions:
(i) Profit earned by the store “M” during the month of November is Rs.___16900_______.
(ii) Profit earned by the store “N” during the month of November is Rs.___9100_______.
(iii) Value of Stock at the end of the month maintained by the store “M” is Rs.___132600_______.
(iv) Value of Stock at the end of the month maintained by the store “N” is Rs.____124800______.

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