From the following transaction, prepare separately the stores ledger accounts, using the (i) FIFO and (ii) LIFO pricing methods:
|
January |
1 |
Opening balance is 100 units at Rs 5 each |
|
January |
5 |
Received 500 units at Rs 6 each |
|
January |
20 |
Issued 300 units |
|
February |
5 |
Issued 200 units |
|
February |
6 |
Received 600 units at Rs 5 each |
|
March |
10 |
Issued 300 units |
|
March |
12 |
Issued 250 units |