Exercise 1: the following is the record of Receipts and issues of material A in a factory during the month of January 2010.
date. particular units. rate(Rs)
1. opening balance. 100 10
issued. 60 -
2. received 120 11
3. issued 50 stock verification showed a loss of 5 units
4. received back from orders 20 previously issued at Rs.9 per unit
6. issued. 80 -
7. received. 45 12
10. issued. 50 -
At what prices will the material issued under FIFO and LIFO methods?​