Question 1 Tracy runs a business, Oakville Pte Ltd, dealing in stationery. The following
information were provided by Tracy on 31 October 2019:
Product
Highlighter blue
Highlighter yellow
Highlighter green
Purchase Date
28 October 2019
25 October 2019
31 October 2019
Quantity
105
119
125
Total Cost ($)
115.50
285.60
112.50
The following were the purchases and sales for the month of November 2019:
Purchases
Sales
Product Date
Quantity Total Amount Date Quantity Total
($)
Amount ($)
Highlighter Nov 2 181
144.80 Nov 7 85
246.50
green
14
244
146.40 9 147
235.20
27
293
65.10 18 229
55.70
Highlighter Nov 8
244
134.20 Nov 3 98
310.89
blue
18 144
108.00 10 198
458.40
23
122
85.40 25 237
284.40
27 197
39.40 28 143
50.05
30
290
377.00
106
418.00
143
42.90 Nov 22 195
175.50
Highlighter-Nov 19
yellow
20 191
85.96 25 103
525.30
67.20 27 162
30 120
453.60
(6755
(6.1)
(0.2)
(13)
29
Required:
Prepare the stock card for Highlighter blue using FIFO method for the month of
November 2019.