Question

UsethefollowinginformationofWediWokeliandCo. AcompanyjuststartingbusinessmadethefollowingfourinventorypurchasesinJune 2016: Kshs June1 150unitsRs.6.60/unitcost 990 June10 200unitsRs.6.30/unitcost 1,260 June15 200unitsRs.5.85/unitcost 1,170 June28 150unit

UsethefollowinginformationofWediWokeliandCo.
AcompanyjuststartingbusinessmadethefollowingfourinventorypurchasesinJune
2016:
Kshs
June1 150unitsRs.6.60/unitcost 990
June10 200unitsRs.6.30/unitcost 1,260
June15 200unitsRs.5.85/unitcost 1,170
June28 150unitsRs.5.20/unitcost 780
Kshs4,200
AphysicalcountofmerchandiseinventoryonJune30revealsthatthereare250units
onhand.
Requirement:
(a):UsingtheperiodicLIFOinventorymethod,thevalueoftheendinginventoryonJune
30is?
(2marks)
(b):UsingtheperiodicFIFOinventorymethod,theamountallocatedtocostofgoods
soldforJuneis?

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