The following information is extracted from the stores ledger:
|
January 1. |
Opening balance 500 units at Rs. 4 |
|
Purchases 200 units at Rs. 4.25 |
|
|
Purchases 150 units at Rs. 4.10 |
|
|
Purchases 300 units at Rs. 4.50 |
|
|
Purchases 400 units at Rs. 4 |
Issue of materials were as follows:
|
January 4. |
200 units |
|
400 units |
|
|
100 units |
|
|
100 units |
|
|
200 units |
|
|
250 units |
Issue are to be priced on the principle of FIFO method. Write up the stores ledger account.