Reference no: EM132710094

Question - During the month of November, Hassan Glass Factory conducted the following transactions for the glass materials:

Date Transactions

01 Balance of 400 units brought forward at Rs. 50 each.

03 Received 300 units at Rs. 55 each in the stores.

07 Issued 100 units to the factory for production.

15 Received another lot of 200 units at Rs. 52 each in the stores.

18 Issued 150 units to the factory for production.

21 Issued 300 more units to the factory for production.

25 Received 150 units of material at Rs. 60 each.

29 Issued 200 more units to the production.

The company is using perpetual inventory system for proper controls.

Required - Prepare Store Ledger Card using each of the following methods of inventory costing:

1. First in First Out

2. Last in First Out

3. Moving Average