The following receipts and issues were made of material during the month of May. Prepare stores ledger account on the basis of
- simple average method and
- weighted average method
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Receipts: |
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May 1. |
Opening balance of stock |
300 units at Rs. 4.50 per unit |
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Purchases |
400 units at Rs. 5.00 per unit |
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Purchases |
1,000 units at Rs. 5.50 per unit |
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Purchases |
700 units at Rs. 4.80 per unit |
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Issues: |
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May 3. |
Issues |
300 units |
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Issues |
100 units |
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Issues |
700 units |
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Issues |
700 units |