On 15 2001 ABC Company sold 1 000 printers to another company-01988
This subjective question is related to the book/course
vu mgt411 Money & Banking.
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vu mgt411 Mid Term Solved Past Paper No. 6.
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.
Instructions:
Prepare a separate general entry to record the cost of printers, assuming that the company uses the following methods.
| Purchase date | Quantity | Unit Cost | Total Cost |
| Dec. 12, 2000 | 600 | Rs. 9.25 | Rs. 5,550 |
| Jan. 9, 2001 | 900 | Rs. 9.50 | Rs. 8,550 |
| Total on hand | 1,500 | Rs. 14,100 |
Prepare a separate general entry to record the cost of printers, assuming that the company uses the following methods.
