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also explain the difference in profits if any 649181

ABC Ltd. provides you the following information. Calculate the cost of goods sold and ending inventory applying the Last In First Out method of pricing raw materials under the Perpetual Inventory and Periodic Inventory Control System.

Date

Particulars

Units

Per Unit Cost Rs.

January 1

Opening Stock

200

10

January 10

Purchases

400

12

January 12

Withdrawals

500

January 16

Purchases

300

11

January 19

Issues

200

January 30

Receipts

100

15

Also explain the difference in profits if any.

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