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The value of opening stock as on 1stJanuary 2003 was Rs. 7,000 stock of Rs. 23,000 in January were purchased. COGS was Rs. 21,000. What was the value of closing stock as on 31st January, 2003?

The value of opening stock as on 1stJanuary 2003 was Rs. 7,000 stock of Rs. 23,000 in January were purchased. COGS was Rs. 21,000. What was the value of closing stock as on 31st January, 2003? Correct Answer Rs. 9,000

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1st January, 600 units @ Rs. 12 per unit
12th January, 500 units @ Rs. 14 per unit
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3rd January 300 units
5th January 124 units
15th January 250 units
16th January 300 units
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1st January, 20XX: Opening balance: 50 units @ Rs 4

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5th January, 20XX: 100 units @ Rs 5
12th January, 20XX: 200 units @ Rs 4.50

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18th January, 20XX: 150 units"
"Calculate the value of closing stock from the following according to LIFO method:
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2nd January, 20XX: 30 units
18th January, 20XX: 150 units"
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