The following are the receipts and issues of coal in a factory during March 1994:
|
1 March |
Opening stock is 200 tonne at Rs 460 per tonne |
|
4 |
Issued 140 tonne |
|
6 |
Purchased 350 tonne at Rs 450 per tonne |
|
8 |
Condemned due to deterioration in quality and transferred to scrap, 30 tonne |
|
9 |
Issued 80 tonne |
|
14 |
Issued 210 tonne |
|
17 |
Purchased 200 tonne at Rs 480 per tonne |
|
20 |
Issued 120 tonne |
|
25 |
Purchased 180 tonne at Rs 470 per tonne |
|
28 |
Issued 280 tonne |
|
31 |
Excess found in stock, 43 tonne, due to wrong weighing during the month |
The maximum level fixed is 400 tonne, the minimum is 75 tonne and the reorder level is 100 tonne. Show the stores ledger under LIFO system.