Question

From the information provided, prepare the stores ledger account showing how
the issues would be priced if LIFO method is followed.
2017
August
1 Opening balance 100 units at Rs.10 each.
3 Received
200 units at Rs. 10.50 each.
5 Received
300 units at Rs.10.60 each.
7 Issued
400 units to Job A.
10 Issued
120 units to Job B.
15 Received
400 units at Rs.11 each.
18 Issued
200 units to Job C.
21 Received
300 units at Rs.11.40 each.
25 Received
200 units at Rs.11.50 each.
30 Issued
400 units to Job D.​

Answer 1

Explanation:

purchases

[email protected]= 2100

[email protected]= 3180

15....400@11= 4400

[email protected]=3420

[email protected]= 2300

t

TOTAL QTY 380@29.8= 11340 ANSWER..

Answer 2

Answer:

[email protected]= [email protected]= 318015....400@11= [email protected]=342025....

[email protected]= 2300

TOTAL QTY [email protected]= 11340 ANSWER..

Explanation:

thanks.