From the following information, prepare a store ledger account under specific pricing with FIFO:
|
1 April |
Opening balance |
50 kg at Rs 10 |
|
2 April |
Issued |
30 kg |
|
4 April |
Purchased |
60 kg at Rs 11 |
|
5 April |
Purchased |
50 kg at Rs 12 for a specific job to be issued on 15 April |
|
6 April |
Issued |
25 kg |
|
10 April |
Purchased |
50 kg at Rs 10 |
|
16 April |
Issued |
60 kg |
|
25 April |
Purchased |
25 kg at Rs 12 |
|
30 April |
Issued |
35 kg |
Hint: The lot purchased on 5 April was reserved and issued to the specific job on 15 April.