ACC 212 (COST ACCOUNTING 1) - ASSIGNMENT 4 FOR PART TIME

ASSIGNMENT 4

(a) Write short note on the following methods of stock valuation:

i. First In First Out (FIFO)      ii. Last In First Out (LIFO)      iii. Weighted Average Method

(b) The following information relates to Feyinkogbon Manufacturing Limited from July 1 to 31^st December, 2018.

Date	Quantity	Cost (N)
Receipts: July 5 August 1 September 3 October 4 December	200 400 600 400 500	720,000 1,520,000 2,400,000 1,400,000 1,400,000
Sales: August 2 October 12 December 12	500 600 400	2,500,000 2,700,000 1,500,000

Required: Calculate the cost of the product issued during the period and the value on hard on 31^st December, 2018 using 

i. First In First Out (FIFO) .

ii. Last In First Out (FIFO)

                               BEST OF LUCK!

Train your brain click below link: 

https://britstutors.blogspot.com/2018/10/train-your-brain.html

Course Outline:
https://britstutors.blogspot.com/2018/11/acc-212-cost-accounting-1-course-outline.html
Assignment 1:
https://britstutors.blogspot.com/2019/01/acc-212-cost-accounting-1-assignment-1.html
Assignment 2 and 3
https://britstutors.blogspot.com/2019/01/acc-212-cost-accounting-1-assignment-2.html

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