With the help of the following particulars, prepare Stores Account, showing issue of materials on the basis of LIFO Method:
|
Purchases |
|
|
June 1 |
(250 kg @ Rs 2.00 per kg) |
|
June 8 |
(175 kg @ Rs 2.10 per kg) |
|
June 18 |
(300 kg @ Rs 2.20 per kg) |
|
June 25 |
(250 kg @ Rs 2.30 per kg) |
|
Issues |
|
|
June 9 |
(300 kg on requisition No. 1) |
|
June 19 |
(225 kg on requisition No. 2) |
|
June 28 |
(255 kg on requisition No. 3) |
|
June 30 |
(75 kg on requisition No. 4) |
|
Assume that there was no opening stock |
|