Please answer question. The Table is provided for you. Joe Mukram owns and operates a tyre shop in Fast Town. During the month of October 2009 herecorded the following information:6.DateTransactionValueOctober 01Opening Balance150 @ $25October 10Purchased200 @$27October 15Sold230 @$50October 21Purchased500 @ $30October 26Sold400 @$50October 31Sold120 @ $55Using the stock form provided, determine the value of the tyres remaining in stock atOctober 31, 2009. Joe Mukram uses the LIFO method of stock valuation.(a)(b)Prepare a Trading Account for the month ending October 31, 2009. ANSWER SHOETCandidate No:Centre No:Answer Sheet for Question 6 (a).Joe MukramStock Form (LIFO method)PurchasesSalesBalanceDateQuantity Cost Price Quantity Sales Price QuantityCost PriceValue(S)(4)(S)(S)TO BE ATTACHED TO YOUR ANSWER BOOKLET

As per your requirement the solution is only for the part A for which you have provided the table.…

Answered: Joe Mukram Stock Form (LIFO method)…

Joe Mukram Stock Form (LIFO method) Purchases Sales Balance Date Quantity Cost Price (S) Cost Price Value Quantity Sales Price Quantity (4) (S) (S)

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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