The following receipts and issues of materials were made during the month of January.
|
January 1 |
Opening stock 80 units @ Rs.1.00 each |
|
January 7 |
Received from vendors 40 units @ Rs.1.10 each |
|
January 12 |
Received from vendors 60 units @ Rs.1.20 each |
|
January 22 |
Received from vendors 72 units @ Rs.1.25 each |
|
January 4 |
Issued 60 units |
|
January 9 |
Issued 40 units |
|
January 14 |
Issued 40 units |
|
January 30 |
Issued 80 units |
Prepare the Stores Ledgers maintained under (i) the FIFO, (ii) the LIFO methods.