Solution-Prepare store ledger card using each of the fifo

Prepare store ledger card using each of the fifo method

Assignment Help Accounting Basics

Reference no: EM132673763

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:-

Problem 1: Prepare Store Ledger Card using each of the following methods of inventory costing :-

First in First Out

Last in First Out

Moving Average

Reference no: EM132673763

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Prepare store ledger card using each of the fifo method

Reference no: EM132673763

Reference no: EM132673763

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