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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