00:01
Okay, we've given here information pertaining to stock that has been bought in the month of june, and the following information is given.
00:09
We basically want to look at the date and the quantity, the quantity, as well as the value of the stock that is bought.
00:23
So these are the days of which stock was bought.
00:27
This is the month of june, june the 1st.
00:31
There was quantity bought and then on the 10th and then on the 15th and then on the 28th okay so the quantity that was bought here was 150 to the value of 390 and 200 units were bought on the 10th to the value of 585 and 200 units were bought to the value of 630 and 150 units report to the value of 510.
01:11
Okay, so the question is how much is going to go to cost of sales, cost of goods sold.
01:19
How much is going to the cost of goods sold? that is the question.
01:24
Now obviously, if the stock count revealed that the closing star the closing inventory let's just call it the closing inventory was actually 250 units so if we're using the fifo method of valuation then it would seem it would mean that the 200 units 250 units are going to come from the last units that were bought the last units that were bought so if we look at the last units that were bought, last units bought is obviously going to be the 150 units of the 28th, 150 units.
02:28
And for the stock that was bought on the 15th, there was 200 units that were bought.
02:34
So the 100 units of the closing stock are coming from the 100 units from the stock that was bought on the 15th...