Jerry's Hardware Pty Ltd uses the perpetual inventory method to record their stock of garden rakes. Transactions for the period are set out below:

Date	Transaction	Qty	Unit Price
1 Jul	Opening balance	350	$15.00
4 Jul	Purchase	350	$14.00
8 Jul	Sale	300
11 Jul	Purchase return (from 4 Jul)	35
18 Jul	Sale	200
20 Jul	Sale return (from 18 Jul)	20
25 Jul	Purchase	190	$13.50
31 Jul	Stock on hand	360

Required:

1. Record the information on the stock ledger card using the FIFO method.
2. Record the information on the stock ledger card using the Weighted Average cost method.

Note: for the Weighted Average Method:

• Show and round the Unit Cost to two (2) decimals, and
• round the Total ($) columns to the nearest whole dollar.

Task 3 Continued

Answer Template_A Stock ledger card using the FIFO method

Date	Purchases / INs	COGS / OUTs	Balance
	Qty	Unit Cost	Total ($)	Qty	Unit Cost	Total ($)	Qty	Unit Cost	Total ($)

Task 3 Continued

Answer Template_B Stock ledger card using the weighted average cost method.

Note: for the Weighted Average Method:

• Show and round the Unit Cost to two (2) decimals, and
• Round the Total ($) columns to the nearest whole dollar.

Date	Purchases / INs	COGS / OUTs	Balance
	Qty	Unit Cost	Total ($)	Qty	Unit Cost	Total ($)	Qty	Unit Cost	Total ($)