Prepare a store ledger account from the following information adopting the FIFO method
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Prepare a store ledger account from the following information adopting the FIFO method of pricing of issues of materials:
1 March | Opening balance | 500 tonne at Rs 200 |
3 | Issued | 70 tonne |
4 | Issued | 100 tonne |
8 | Issued | 80 tonne |
13 | Received from supplier | 200 tonne at Rs 190 |
14 | Returned from department A | 15 tonne |
16 | Issued | 180 tonne |
20 | Received from supplier | 240 tonne at Rs 195 |
24 | Issued | 300 tonne |
25 | Received from supplier | 320 tonne at Rs 200 |
26 | Issued | 115 tonne |
27 | Returned from department B | 35 tonne |
28 | Received from supplier | 100 tonne at Rs 200 |
Hint: Returns from departments on 14 and 27 March are to be assumed out of the immediate preceding issue since no details are given.
11 years ago
Prepare a store ledger account from the following information adopting the FIFO method A+ Tutorial use as Guide
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prepare_a_store_ledger_account_from_the_following_information_adopting_the_fifo_method.docx
