GDB “Discussion Question”
“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”
MGT402 Cost & Management Accounting GDB no 1 fall 14 November 2011
