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  • LIFO Inventory Account Tracking

    Загружено:

    kannan0614
    76 просмотров1 страница
    This document shows the inventory of Material X using the LIFO (Last In, First Out) method over the month of January. It tracks the receipts, issues, and balance of Material X units and their value. By January 31st, there was a balance of 35 units of Material X at a rate of Rs. 3 per unit, totaling Rs. 105. The document provides an accounting of the inventory flows and values of Material X throughout the month.

    Исходное описание:

    LIFO METHOD FOR INVENTORY ACCOUNT

    Оригинальное название

    Inventory Account (LIFO Method)

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    © © All Rights Reserved

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    This document shows the inventory of Material X using the LIFO (Last In, First Out) method over the month of January. It tracks the receipts, issues, and balance of Material X units and their value. By January 31st, there was a balance of 35 units of Material X at a rate of Rs. 3 per unit, totaling Rs. 105. The document provides an accounting of the inventory flows and values of Material X throughout the month.

    Авторское право:

    © All Rights Reserved
    Скачайте в формате DOCX, PDF, TXT или читайте онлайн в Scribd
    Отметить как неприемлемый контент
    76 просмотров1 страница

    LIFO Inventory Account Tracking

    Загружено:

    kannan0614
    This document shows the inventory of Material X using the LIFO (Last In, First Out) method over the month of January. It tracks the receipts, issues, and balance of Material X units and their value. By January 31st, there was a balance of 35 units of Material X at a rate of Rs. 3 per unit, totaling Rs. 105. The document provides an accounting of the inventory flows and values of Material X throughout the month.

    Авторское право:

    © All Rights Reserved
    Скачайте в формате DOCX, PDF, TXT или читайте онлайн в Scribd
    Отметить как неприемлемый контент
    из 1

    Inventory Account (LIFO METHOD)

    Date

    Particulars
    Receipts Issues Balance
    Qty.
    (units)
    Rate
    (Rs.)
    Amount
    (Rs.)
    Qty.
    (units)
    Rate
    (Rs.)
    Amount
    (Rs.)
    Qty.
    (units)
    Rate
    (Rs.)
    Amount
    (Rs.)
    Jan 1 Balance b/d 50 4 200 - - - 50 4 200
    Jan 5 Receipt of Material X 40 3 120 - - - 50
    40
    4
    3
    200
    120
    Jan 8 Receipt of Material X 30 4 120 - - - 50
    40
    30
    4
    3
    4
    200
    120
    120
    Jan 10 Issue of Material X - - - 30
    40
    4
    3
    120
    120

    50

    4

    200
    Jan 12 Issue of Material X - - - 10 4 40 40 4 160
    Jan 15 Receipt of Material X 20 4 80 - - - 40
    20
    4
    4
    160
    80
    Jan 20 Issue of Material X - - - 20 4 80 40 4 160
    Jan 24 Issue of Material X - - - 10 4 40 30 4 120
    Jan 26 Receipt of Material X 40 3 120 - - - 30
    40
    4
    3
    120
    120
    Jan 31 Shortage of Material X
    (Normal Loss)
    - - - 5
    (Normal
    Loss)
    3 15 30
    35
    4
    3
    120
    105
    65 225

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