Question: J Bricks and Mortar ltd. keeps a perpetual inventory system that provides management with information on movements of the companys stock items. On April 30,
J Bricks and Mortar ltd. keeps a perpetual inventory system that provides management with information on movements of the companys stock items. On April 30, 2020, there were 50 units of Brick Z valued at $100 each in store. The following information on movement of the stock item was extracted from the companys records on May 31, 2020:
| Receipts | Sales | |||
| Date | Quantity | Unit Cost | Date | Quantity |
| May 3 | 300 | 150 | May 4 | 150 |
| May 9 | 200 | 200 | May 11 | 250 |
| May 18 | 80 | 180 | May 20 | 100 |
Prepare the Stores Ledger Card for the month of May using the AVCO method of stock valuation.
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