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Question 1: On 15, 2001, ABC Company sold 1,000 printers to another company. Immediately prior to this sale, the perpetual inventory records of the company for the printers included the following cost layers.
Purchase dateQuantityUnit CostTotal Cost
Dec. 12, 2000600Rs. 9.25Rs. 5,550
Jan. 9, 2001900Rs. 9.50Rs. 8,550
Total on hand1,500Rs. 14,100
Instructions:
Prepare a separate general entry to record the cost of printers, assuming that the company uses the following methods.

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