Show the stores ledger entries as they would appear when using the (a) weighted average method and (b) LIFO method of pricing issues in connection with the following transactions:
|
April |
Units |
Value(Rs) |
|
|
1 |
Balance in hand(b/f) |
300 |
600 |
|
2 |
purchased |
200 |
440 |
|
4 |
Issued |
150 |
|
|
6 |
Purchased |
200 |
460 |
|
11 |
Issued |
150.00 |
|
|
19 |
Issued |
200 |
|
|
22 |
Purchased |
200 |
480 |
|
27 |
Issued |
250 |
In a period of rising prices such as above, what are the effects of each method?