Question: Question # 01 Prepare Ronaldo Store Ledger Card from the following information for July: 1. Beg inning Inventory 50 Pieces @ Rs . 20 Rs

Question # 01

Prepare Ronaldo Store Ledger Card from the following information for July:

1. Beginning Inventory 50 Pieces @ Rs. 20 Rs. 1,000

2. Purchases 100 Pieces @ Rs. 25 .Rs. 2,500

9. Purchases 50 Pieces @ Rs. 28 Rs. 1,400

18. Sales 125 Pieces @ Rs. 30 Rs. 3,725

20. Purchases 85 Pieces @ Rs. 32 Rs. 2,720

22. Purchase 100 Pieces @ Rs. 34 Rs. 3,400

27. Sales 150 Pieces @ Rs. 29 Rs. 4,350

Required: Determine the Cost of Sales, Cost of Closing Stock, Sales and Gross profit / loss under each of the following method by using perpetual inventory system, Cost are assigned on the basis of FIFO and Cost are assigned on the basis of Weighted Average

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