From the following details, prepare store ledger under FIFO and LIFO method
Date Particulars
2020
July 1
Opening balance 2000 units @ Rs. 10each
July 5 Received 1000 units @ Rs.11
July 6 Issued 500 units
July 10 Received 5000 units @ Rs. 12
July 12 Received back 50 units out of the issue made on 6th
July
July 14 Issued 600 units
July 18 Returned to suppliers 100 units out of goods received
on 5th July
July 19 Received back 100 units out of the issue made on 14th
July
July 20 Issued 150 units
July 25 Received 500 units @ Rs. 14
July 28 Issued 300 units
The stock verification reports reveals that there was a shortage of 10 units on 18th July
and another shortage of 15 units on 26th July
Answers
Answered by
9
Answer:
From the following details, prepare store ledger under FIFO and LIFO method
Date Particulars
2020
July 1
Opening balance 2000 units @ Rs. 10each
July 5 Received 1000 units @ Rs.11
July 6 Issued 500 units
July 10 Received 5000 units @ Rs. 12
July 12 Received back 50 units out of the issue made on 6th
July
July 14 Issued 600 units
July 18 Returned to suppliers 100 units out of goods received
on 5th July
July 19 Received back 100 units out of the issue made on 14th
July
July 20 Issued 150 units
July 25 Received 500 units @ Rs. 14
July 28 Issued 300 units
The stock verification reports reveals that there was a shortage of 10 units on 18th July
and another shortage of 15 units on 26th July
Answered by
0
Explanation:
very important answers so plz correct answer give
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