From the following transactions, prepare separately the Stores Ledger Accounts, using the following pricing methods: (i) the FIFO, (ii) the LIFO.
|
January |
1 |
Opening balance 100 units @ Rs.5 each |
|
January |
5 |
Received 500 units @ Rs.6 each |
|
January |
20 |
Issued 300 units |
|
February |
5 |
Issued 200 units |
|
February |
6 |
Received 600 units @ Rs.5 each |
|
March |
10 |
Issued 300 units |
|
March |
12 |
Issued 250 units |