Solution-Make a store ledger card of Gamat for March

Make a store ledger card of Gamat for March

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Reference no: EM132993187

Problem - Harunis Trading purchases and sells a single product called Gamat. Opening inventories of Gamat on 1 March 2019 was 400 units at a total cost of RM1,200. The sale price of Gamat per unit is RM7.50 The transactions during the month are as follows:

Date	Purchase		Sales (Unit)
	Unit	Total (RM)
March 2	5,500	24,500
March 7	7,000	20,000
March 13			2,200
March 19	4,000	12,000
March 22			2,600
March 28			2,000

Required -

a. Make a store ledger card of Gamat for March 2019 using the first-in, first-out (FIFO) method of pricing issues.

b. Calculate the value of inventory for the financial year ended 31 March 2019.

c. Make extracts from the Statement of Profit or Loss for the year ended 31 March 2019.

Reference no: EM132993187

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Make a store ledger card of Gamat for March

Reference no: EM132993187

Reference no: EM132993187

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