Management Accounting Report: Systems, Techniques and Analysis
VerifiedAdded on 2022/12/26
|28
|6033
|1
Report
AI Summary
This report provides a comprehensive overview of management accounting, detailing its principles, systems, and techniques. Part 1 focuses on various management accounting systems, including inventory management, price optimization, and cost accounting systems, and their respective roles. It emphasizes the importance of these systems in developing financial plans, improving management procedures, and maintaining profitability. The report then compares management accounting to financial accounting, highlighting their distinct purposes and users. Part 2 delves into cost techniques such as absorption costing and marginal costing, illustrating their implications for producing income statements. The report includes detailed financial statements under both costing methods, providing a clear comparison of their effects on profitability and financial reporting. Furthermore, it explores the integration of management accounting systems and reports within business processes, emphasizing how companies like UCK furniture utilize these systems to monitor output, maximize productivity, and make informed decisions. The report concludes by underscoring the importance of accurate, reliable, and updated information in management accounting for effective decision-making.

Management Accounting
Paraphrase This Document
Need a fresh take? Get an instant paraphrase of this document with our AI Paraphraser

Contents
INTRODUCTION (Part one)..........................................................................................................3
PART 1............................................................................................................................................3
CONCLUSION (Part 1)................................................................................................................18
REFERENCES (Part 1).................................................................................................................19
INTRODUCTION (Part two)........................................................................................................20
PART 2..........................................................................................................................................20
CONCLUSION (Part 2)................................................................................................................30
REFERENCES (Part 2).................................................................................................................32
INTRODUCTION (Part one)..........................................................................................................3
PART 1............................................................................................................................................3
CONCLUSION (Part 1)................................................................................................................18
REFERENCES (Part 1).................................................................................................................19
INTRODUCTION (Part two)........................................................................................................20
PART 2..........................................................................................................................................20
CONCLUSION (Part 2)................................................................................................................30
REFERENCES (Part 2).................................................................................................................32

INTRODUCTION (Part one)
Management accounting is the process of calculating company expenses and operations in order
to compile internal financial reports, accounts, journals, and journals and assist administrators in
achieving management goals (Drury, 2018). In other terms, it is the process of converting
monetary and expense information into valuable facts for effective business administration. This
reporting is used by the administrator to even provide accounting transactions to internal
customers so that they can make informed decisions and control productivity effectively. In such
part of report detailed information about different kinds of management accounting systems and
their role has been described. As well as in further part of report application of accounting
techniques is applied to produce financial statements as per the requirement.
PART 1
Section 1
1.1 Analysis of MA and requirements of each.
Management accounting with the use of technical expertise and experience to support internal
operations in the processing of business and audit reports. Different rules, strategy, and
supervision of the firm's activities are all based on these policies (Abdusalomova, 2019). The
only stipulation in management accounting is that evidence must be presented for the purpose of
promoting the effective decision making.
Importance of MA-
• Develop financial plans: The key responsibility of the management accountant is to develop
and implement successful financial strategies in order to forecast earnings and plan budgets that
contain both revenues and expenses. To keep track of all financial reports in various accounts as
required.
• Improve management procedures: This is a critical role in which management analyzes its
results and makes appropriate decisions. It would improve the major effectiveness of the key
operations by establishing a transparent and seamless internal and external process.
• Maintain profitability: There are analysing different styles of method that use by financial
manager to stay profitable of company. With the aid of research, the accountant calculate sales
toward fixed and also variable expense to know breakeven.
Management accounting is the process of calculating company expenses and operations in order
to compile internal financial reports, accounts, journals, and journals and assist administrators in
achieving management goals (Drury, 2018). In other terms, it is the process of converting
monetary and expense information into valuable facts for effective business administration. This
reporting is used by the administrator to even provide accounting transactions to internal
customers so that they can make informed decisions and control productivity effectively. In such
part of report detailed information about different kinds of management accounting systems and
their role has been described. As well as in further part of report application of accounting
techniques is applied to produce financial statements as per the requirement.
PART 1
Section 1
1.1 Analysis of MA and requirements of each.
Management accounting with the use of technical expertise and experience to support internal
operations in the processing of business and audit reports. Different rules, strategy, and
supervision of the firm's activities are all based on these policies (Abdusalomova, 2019). The
only stipulation in management accounting is that evidence must be presented for the purpose of
promoting the effective decision making.
Importance of MA-
• Develop financial plans: The key responsibility of the management accountant is to develop
and implement successful financial strategies in order to forecast earnings and plan budgets that
contain both revenues and expenses. To keep track of all financial reports in various accounts as
required.
• Improve management procedures: This is a critical role in which management analyzes its
results and makes appropriate decisions. It would improve the major effectiveness of the key
operations by establishing a transparent and seamless internal and external process.
• Maintain profitability: There are analysing different styles of method that use by financial
manager to stay profitable of company. With the aid of research, the accountant calculate sales
toward fixed and also variable expense to know breakeven.
⊘ This is a preview!⊘
Do you want full access?
Subscribe today to unlock all pages.

Trusted by 1+ million students worldwide

Principle of MA
• Designing and compiling: To analyse a particular business concern, all accounting records,
surveys, and other events focused on historical, current, and future results should be analysed
and collected (Abdusalomova, 2019). It refers to a framework that is structured to display all
relevant data in order to solve a particular problem.
• Administration by exception: The management uses this concept to present all necessary facts
and have control of the financial structure. Using this idea, compare real to budgeted costs and
make adjustments as needed.
Comparison of MA and FA
Basis Management Accounting Financial Accounting
Meaning Management accounting is a
mechanism that provides related
statistics to administrators in order
for them to formulate policies and
gather all financial data.
Financial accounting is a form of
accounting that focuses on the
preparing of financial statements in
order to provide financial data to
relevant consumers.
Purpose To make financial data available to
third parties.
To engage management in careful
preparations and decision-making
procedures by including accurate
reports on various activities.
Uses The corporation uses financial
accounting to present monetary data
to external customers.
MA is once used to display financial
data to internal customers.
Different types of MA system
Inventory management system- Stock control is a mechanism that uses a never-ending
inventory scheme to keep track of manufacturing operations. In basic terms, it means that as a
product moves from one phase to another at each point, from raw material to finished product, it
• Designing and compiling: To analyse a particular business concern, all accounting records,
surveys, and other events focused on historical, current, and future results should be analysed
and collected (Abdusalomova, 2019). It refers to a framework that is structured to display all
relevant data in order to solve a particular problem.
• Administration by exception: The management uses this concept to present all necessary facts
and have control of the financial structure. Using this idea, compare real to budgeted costs and
make adjustments as needed.
Comparison of MA and FA
Basis Management Accounting Financial Accounting
Meaning Management accounting is a
mechanism that provides related
statistics to administrators in order
for them to formulate policies and
gather all financial data.
Financial accounting is a form of
accounting that focuses on the
preparing of financial statements in
order to provide financial data to
relevant consumers.
Purpose To make financial data available to
third parties.
To engage management in careful
preparations and decision-making
procedures by including accurate
reports on various activities.
Uses The corporation uses financial
accounting to present monetary data
to external customers.
MA is once used to display financial
data to internal customers.
Different types of MA system
Inventory management system- Stock control is a mechanism that uses a never-ending
inventory scheme to keep track of manufacturing operations. In basic terms, it means that as a
product moves from one phase to another at each point, from raw material to finished product, it
Paraphrase This Document
Need a fresh take? Get an instant paraphrase of this document with our AI Paraphraser

must be tracked and saved in a computerized system. All of this aids the boss in keeping track of
operations and making final decisions. This method is used in the form of UCK furniture to keep
track of people who purchase products for further processing. The most critical thing of this
method is to determine when raw materials are required and when purchasing orders are needed.
Price optimization system- Price optimization method is a statistical method in which a
business checks the price of a commodity at various levels to see what amount a buyer is willing
to pay and also making a profit (Jansen, 2018). The method aids companies in determining the
price at which they may market their goods in the most quantity given the degree of competition
and product production costs. In the context of above mentioned company, such accounting
system is used with an aim to set the price of products and service at a level on which they can
satisfy need of customers in an effective manner.
Cost accounting system- Cost accounting system is method where business analyse the cost of
production by using direct and indirect costs. If businesses wish to succeed or want to gain
decent profit organizations should know the information and which one is lucrative and which
one would be not. Companies can use a cost accounting scheme to determine the cost of a
commodity at each stage: original, work-in-progress, and final. Since UCK Furniture is the
largest supermarket chain in the United Kingdom, it is critical for them to determine the correct
product cost. This system's primary function is to analyse the cost of products manufactured by
the organization.
1.2 Various kinds of methods of MA reporting.
Management accounting reports- It is a report that the organization prepares to assess the success
of each department. In these papers, all of the data from each unit is collected, and then the
appropriate decisions are made. To generate this report, all company organisations use a variety
of systems, which help them sustain consistent results. For example, UCK furniture prepares
these reports in great detail and then makes the appropriate decisions.
Inventory-management report- The organization prepares this study to learn about their stock,
which includes unnecessary expenses and labour cost per hour (Bedford and Speklé, 2018). This
research assists businesses in saving a significant amount of money by efficiently using capital.
Since inventory is the most valuable thing for a company, this report shows how businesses are
using their inventory and where they are losing it. When UCK Furniture utilizes this report to
operations and making final decisions. This method is used in the form of UCK furniture to keep
track of people who purchase products for further processing. The most critical thing of this
method is to determine when raw materials are required and when purchasing orders are needed.
Price optimization system- Price optimization method is a statistical method in which a
business checks the price of a commodity at various levels to see what amount a buyer is willing
to pay and also making a profit (Jansen, 2018). The method aids companies in determining the
price at which they may market their goods in the most quantity given the degree of competition
and product production costs. In the context of above mentioned company, such accounting
system is used with an aim to set the price of products and service at a level on which they can
satisfy need of customers in an effective manner.
Cost accounting system- Cost accounting system is method where business analyse the cost of
production by using direct and indirect costs. If businesses wish to succeed or want to gain
decent profit organizations should know the information and which one is lucrative and which
one would be not. Companies can use a cost accounting scheme to determine the cost of a
commodity at each stage: original, work-in-progress, and final. Since UCK Furniture is the
largest supermarket chain in the United Kingdom, it is critical for them to determine the correct
product cost. This system's primary function is to analyse the cost of products manufactured by
the organization.
1.2 Various kinds of methods of MA reporting.
Management accounting reports- It is a report that the organization prepares to assess the success
of each department. In these papers, all of the data from each unit is collected, and then the
appropriate decisions are made. To generate this report, all company organisations use a variety
of systems, which help them sustain consistent results. For example, UCK furniture prepares
these reports in great detail and then makes the appropriate decisions.
Inventory-management report- The organization prepares this study to learn about their stock,
which includes unnecessary expenses and labour cost per hour (Bedford and Speklé, 2018). This
research assists businesses in saving a significant amount of money by efficiently using capital.
Since inventory is the most valuable thing for a company, this report shows how businesses are
using their inventory and where they are losing it. When UCK Furniture utilizes this report to

manage their resources, they review to see if the raw material for each product is being used
correctly. It enables the business to save a significant amount of product by preventing it from
being wasted.
Cost accounting report- This document is produced by the firms to recognise the cost of product.
It contains the material cost, labour cost or any other cost. It aids the corporation in determining
the cost of production and the cost of sale of a commodity. This study will help an organization
determine their profitability. This report is used by companies like UCK furniture to determine
the appropriate price for their products. It assists the organization in providing a low-cost
commodity to the consumer, resulting in a strong target market.
Account receivable report- The organization prepares this report to learn about the credit options
available in the industry which includes the company's credit refund policy for customers. It aids
the organization in identifying defaulters and other selection issues. This study is used by
companies like UCK Furniture to keep track of their bad debt and manage it. It allows the
business to save a substantial amount of money.
1.3 Importance of each MAS.
Relevance: The data gathered by the firm must be applicable to the corporation's market
operations and required for regular data review (Rikhardsson and Yigitbasioglu, 2018). The
accountant's job is to keep records of all transactions that have a direct or indirect effect on
company operations. As a result, it is essential to recognize trustworthy data and report it in
accounting books.
Update information: All the financial records should be revised as per the updates. As
organization apply improvements in sales plan so it effects on the performance in straightforward
manner. As a result, it is essential to apply improvements in information to give current
information to the manager.
Reliability-Information should have a consistent and agreeable effect on the collection method at
all collection points. This protocol for progress events and data bases should be specifically
defined and accessible for systems from manual, automatic, and other documents.
Understandable- Financial reporting should be accessible so that people can generate effective
ideas and read it quickly. On the basis of this material, schedule planned plans and prepare for
good decision.
correctly. It enables the business to save a significant amount of product by preventing it from
being wasted.
Cost accounting report- This document is produced by the firms to recognise the cost of product.
It contains the material cost, labour cost or any other cost. It aids the corporation in determining
the cost of production and the cost of sale of a commodity. This study will help an organization
determine their profitability. This report is used by companies like UCK furniture to determine
the appropriate price for their products. It assists the organization in providing a low-cost
commodity to the consumer, resulting in a strong target market.
Account receivable report- The organization prepares this report to learn about the credit options
available in the industry which includes the company's credit refund policy for customers. It aids
the organization in identifying defaulters and other selection issues. This study is used by
companies like UCK Furniture to keep track of their bad debt and manage it. It allows the
business to save a substantial amount of money.
1.3 Importance of each MAS.
Relevance: The data gathered by the firm must be applicable to the corporation's market
operations and required for regular data review (Rikhardsson and Yigitbasioglu, 2018). The
accountant's job is to keep records of all transactions that have a direct or indirect effect on
company operations. As a result, it is essential to recognize trustworthy data and report it in
accounting books.
Update information: All the financial records should be revised as per the updates. As
organization apply improvements in sales plan so it effects on the performance in straightforward
manner. As a result, it is essential to apply improvements in information to give current
information to the manager.
Reliability-Information should have a consistent and agreeable effect on the collection method at
all collection points. This protocol for progress events and data bases should be specifically
defined and accessible for systems from manual, automatic, and other documents.
Understandable- Financial reporting should be accessible so that people can generate effective
ideas and read it quickly. On the basis of this material, schedule planned plans and prepare for
good decision.
⊘ This is a preview!⊘
Do you want full access?
Subscribe today to unlock all pages.

Trusted by 1+ million students worldwide

Accuracy-The accountant's data entry in the financial records must be correct because it aids the
auditor in making decisions. If an accountant fails to correctly log their payments, data can be
captured and used, even if it has many applications.
Management accounting
System
Uses Application
Cost accounting system It is used by businesses to
forecast the cost of products
and services in an efficient
manner (Hiebl, 2018).
Afterwards, determine the
price of various products.
It is used in the UCK
manufacturing industries to
analyse the cost of each
product produced by the
company.
Inventory-management system The use of this structure to
properly manage inventory and
evaluate how many amounts
are required at various stages
at various levels.
This system is used by a
company to keep track of stock
at various levels and place
orders for more UCK
manufacturing industry.
Price optimisation system It is the most critical system
that a company uses to
perform market analysis and
analyse the effects of various
consumers' perceptions of their
goods.
This method is used to set an
optimal pricing structure for
UCK furniture in order to
maximize profit in a large
sense and make the best
decisions.
1.4 Integration of MAS and MA reports with business process.
Different forms of MA programs and reports play an important role in organizational procedures.
UCK furniture uses a variety of systems to monitor output and maximize productivity in the
auditor in making decisions. If an accountant fails to correctly log their payments, data can be
captured and used, even if it has many applications.
Management accounting
System
Uses Application
Cost accounting system It is used by businesses to
forecast the cost of products
and services in an efficient
manner (Hiebl, 2018).
Afterwards, determine the
price of various products.
It is used in the UCK
manufacturing industries to
analyse the cost of each
product produced by the
company.
Inventory-management system The use of this structure to
properly manage inventory and
evaluate how many amounts
are required at various stages
at various levels.
This system is used by a
company to keep track of stock
at various levels and place
orders for more UCK
manufacturing industry.
Price optimisation system It is the most critical system
that a company uses to
perform market analysis and
analyse the effects of various
consumers' perceptions of their
goods.
This method is used to set an
optimal pricing structure for
UCK furniture in order to
maximize profit in a large
sense and make the best
decisions.
1.4 Integration of MAS and MA reports with business process.
Different forms of MA programs and reports play an important role in organizational procedures.
UCK furniture uses a variety of systems to monitor output and maximize productivity in the
Paraphrase This Document
Need a fresh take? Get an instant paraphrase of this document with our AI Paraphraser

most efficient way possible (Hiebl and Richter, 2018). To successfully control all commercial
operations, UCK furniture employs a variety of systems such as price optimization, cost
accounting, and inventory management. Cost accounting can be used to forecast inventory costs,
and the reports can assist with cost management. Reports are used to analyse each division and
deal with various issues in order to aid in making the best decisions possible.
Section 2
2.1 Implication of different cost techniques to produce income statement.
Cost: This is amount of funding which is spent by an organization for the development and
manufacture of various goods as well services. This aspect supports in research real costs and
necessary to pay off to customers (Samuel, 2018).
Absorption costing: This costing strategy shows all of the manufacturing costs that are absorbed
by the manufactured units. This approach focuses on both fixed and variable costs in order to
organize different company activities.
Marginal costing: It is a costing strategy in which costs are paid to unit costs on fixed costs and
charged according to the duration by fully pay off towards expenditure.
Januar
y
Februar
y
Direct material cost 132000 114000
Direct labor cost 88000 76000
variable production overheads 55000 47500
Fixed production overheads 22000 19000
Total cost 297000 256500
per unit cost 27 27
Income statement under absorption
costing
Januar
y
Februar
y
sales 315000 402500
Less: cost of sales 243000 310500
Direct material cost 132000 114000
Direct labor cost 88000 76000
variable production overheads 55000 47500
Fixed production overheads 22000 19000
Closing stock 54000 0
Opening stock 0 54000
operations, UCK furniture employs a variety of systems such as price optimization, cost
accounting, and inventory management. Cost accounting can be used to forecast inventory costs,
and the reports can assist with cost management. Reports are used to analyse each division and
deal with various issues in order to aid in making the best decisions possible.
Section 2
2.1 Implication of different cost techniques to produce income statement.
Cost: This is amount of funding which is spent by an organization for the development and
manufacture of various goods as well services. This aspect supports in research real costs and
necessary to pay off to customers (Samuel, 2018).
Absorption costing: This costing strategy shows all of the manufacturing costs that are absorbed
by the manufactured units. This approach focuses on both fixed and variable costs in order to
organize different company activities.
Marginal costing: It is a costing strategy in which costs are paid to unit costs on fixed costs and
charged according to the duration by fully pay off towards expenditure.
Januar
y
Februar
y
Direct material cost 132000 114000
Direct labor cost 88000 76000
variable production overheads 55000 47500
Fixed production overheads 22000 19000
Total cost 297000 256500
per unit cost 27 27
Income statement under absorption
costing
Januar
y
Februar
y
sales 315000 402500
Less: cost of sales 243000 310500
Direct material cost 132000 114000
Direct labor cost 88000 76000
variable production overheads 55000 47500
Fixed production overheads 22000 19000
Closing stock 54000 0
Opening stock 0 54000

Gross profit 72000 92000
Add/less: under or over absorption fixed
cost 2000 1000
Less: Variable selling cost 9000 11500
Less: Fixed selling cost 2000 2000
59000 79500
Januar
y
Februar
y
Direct material cost 132000 114000
Direct labor cost 88000 76000
variable production overheads 55000 47500
Variable selling cost 9000 11500
Total cost 284000 249000
per unit cost 26 26
Income statement under marginal costing
Januar
y
Februar
y
sales 315000 402500
Less: marginal cost of sales 232000 301000
Direct material cost 132000 114000
Direct labor cost 88000 76000
variable production overheads 55000 47500
Variable selling cost 9000 11500
Closing stock 52000 0
Opening stock 0 52000
Contribution 83000 101500
Less: fixed production cost 20000 20000
Less: fixed selling expenses 2000 2000
61000 79500
2.2 Various MA techniques to produce financial documents.
Product Costing-Product expense is an accounting technique that examines all of a company's
corporate expenditures over a period of time. Various costs, such as raw materials, worker
compensation, manufacturing logistics, and store stocking fees, are included.
Add/less: under or over absorption fixed
cost 2000 1000
Less: Variable selling cost 9000 11500
Less: Fixed selling cost 2000 2000
59000 79500
Januar
y
Februar
y
Direct material cost 132000 114000
Direct labor cost 88000 76000
variable production overheads 55000 47500
Variable selling cost 9000 11500
Total cost 284000 249000
per unit cost 26 26
Income statement under marginal costing
Januar
y
Februar
y
sales 315000 402500
Less: marginal cost of sales 232000 301000
Direct material cost 132000 114000
Direct labor cost 88000 76000
variable production overheads 55000 47500
Variable selling cost 9000 11500
Closing stock 52000 0
Opening stock 0 52000
Contribution 83000 101500
Less: fixed production cost 20000 20000
Less: fixed selling expenses 2000 2000
61000 79500
2.2 Various MA techniques to produce financial documents.
Product Costing-Product expense is an accounting technique that examines all of a company's
corporate expenditures over a period of time. Various costs, such as raw materials, worker
compensation, manufacturing logistics, and store stocking fees, are included.
⊘ This is a preview!⊘
Do you want full access?
Subscribe today to unlock all pages.

Trusted by 1+ million students worldwide

Fixed cost: It is mostly dependent on a specific time frame that does not alter as a result of
manufacturing activities.
Variable costs- This includes direct labour, taxation, and operational expenditures, which vary
directly and proportionally in response to changes in market activity level or volume.
Inventory costs: This expense is analysed by the management to determine how much stock can
be held, and the results differ depending on the customers. Various forms of stock levels are
listed, including:
• Ordering expense: In this cost comprise of salaries and associated corporation tax and also
incentives to guarantee about the labour cost in which company will assign inventory as per the
requirement.
• Holding expense: This costs related that involve to sufficient room to store that inventory
which again is included risk and also losses. The cost of room, money, and unsustainability is
calculated using this cost analysis.
• Administration expense: This cost refers to the salaries paid by the company to its workers, as
well as the price of products sold. It is advantageous to control such stock costs and deduct to red
2.3 Preparation of financial reports and their interpretation:
(a)
Month Hours
Spent Expenses
January 630 7960
February 505 7410
Mar 705 8285
April 555 7535
May 780 9110
June 795 9820
Highest number of hours = June = 800
manufacturing activities.
Variable costs- This includes direct labour, taxation, and operational expenditures, which vary
directly and proportionally in response to changes in market activity level or volume.
Inventory costs: This expense is analysed by the management to determine how much stock can
be held, and the results differ depending on the customers. Various forms of stock levels are
listed, including:
• Ordering expense: In this cost comprise of salaries and associated corporation tax and also
incentives to guarantee about the labour cost in which company will assign inventory as per the
requirement.
• Holding expense: This costs related that involve to sufficient room to store that inventory
which again is included risk and also losses. The cost of room, money, and unsustainability is
calculated using this cost analysis.
• Administration expense: This cost refers to the salaries paid by the company to its workers, as
well as the price of products sold. It is advantageous to control such stock costs and deduct to red
2.3 Preparation of financial reports and their interpretation:
(a)
Month Hours
Spent Expenses
January 630 7960
February 505 7410
Mar 705 8285
April 555 7535
May 780 9110
June 795 9820
Highest number of hours = June = 800
Paraphrase This Document
Need a fresh take? Get an instant paraphrase of this document with our AI Paraphraser

Lowest number of hours = February =
505
Variable cost= (9840-7410)/(800-505)
Variable cost= 8.24 pounds per
unit
fixed cost= 9840 - (800*8.24)
fixed cost= 3248 pounds
expenses for July= 3248 + (650*8.24)
expenses for July= 8604 pounds
expenses for august= 3248 +
(750*8.24)
expenses for august= 9428 pounds
(b)
Date Purchases Purchase Cost Cost per unit
Opening 50
15-May 100 1000 10
18-Aug 200 2200 11
19-Sep 130 1800 13.84615
505
Variable cost= (9840-7410)/(800-505)
Variable cost= 8.24 pounds per
unit
fixed cost= 9840 - (800*8.24)
fixed cost= 3248 pounds
expenses for July= 3248 + (650*8.24)
expenses for July= 8604 pounds
expenses for august= 3248 +
(750*8.24)
expenses for august= 9428 pounds
(b)
Date Purchases Purchase Cost Cost per unit
Opening 50
15-May 100 1000 10
18-Aug 200 2200 11
19-Sep 130 1800 13.84615

FIFO
Opening 50
Purchases
15-May 100
150 10 1500
18-Aug 200
350 150*10 + 200*11 3700
19-Sep 130
480 3700 + 130 *13.84615 5500
Cost of Goods Sold 10700
LIFO
Opening 50
Purchases
19-Sep 130
180 13.84615 2492.308
18-Aug 200
380 2492.308 +200*11 4692.308
15-May 100
480 4692.308 + 100*10 5692.308
Cost of Goods Sold 12876.92
FIFO
Opening 50
Opening 50
Purchases
15-May 100
150 10 1500
18-Aug 200
350 150*10 + 200*11 3700
19-Sep 130
480 3700 + 130 *13.84615 5500
Cost of Goods Sold 10700
LIFO
Opening 50
Purchases
19-Sep 130
180 13.84615 2492.308
18-Aug 200
380 2492.308 +200*11 4692.308
15-May 100
480 4692.308 + 100*10 5692.308
Cost of Goods Sold 12876.92
FIFO
Opening 50
⊘ This is a preview!⊘
Do you want full access?
Subscribe today to unlock all pages.

Trusted by 1+ million students worldwide
1 out of 28
Related Documents

Your All-in-One AI-Powered Toolkit for Academic Success.
+13062052269
info@desklib.com
Available 24*7 on WhatsApp / Email
Unlock your academic potential
Copyright © 2020–2025 A2Z Services. All Rights Reserved. Developed and managed by ZUCOL.