QUESTION THREE a) The following details were extracted from the stores ledger card of a small...

 

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QUESTION THREE a) The following details were extracted from the stores ledger card of a small manufacturing company during the month of November 2016 November 2 8 10 15 Received Received Issued Issued Received 20 25 Issued 27 30 Issued 500 units @shs 20 each Received 300 units @shs 22 each 400 units 200 units 600 units @shs 25 each 300 units 200 units @ shs 26 each 100 units Standard price for each unit after the month of may is shs 25/. Market price of this material on December is shs 27/ unit and 400 units were purchased on that day Required Prepare stores ledger card to record the above transactions using weighted average b) What is the closing stock in units and kshs (8marks) QUESTION THREE a) The following details were extracted from the stores ledger card of a small manufacturing company during the month of November 2016 November 2 8 10 15 Received Received Issued Issued Received 20 25 Issued 27 30 Issued 500 units @shs 20 each Received 300 units @shs 22 each 400 units 200 units 600 units @shs 25 each 300 units 200 units @ shs 26 each 100 units Standard price for each unit after the month of may is shs 25/. Market price of this material on December is shs 27/ unit and 400 units were purchased on that day Required Prepare stores ledger card to record the above transactions using weighted average b) What is the closing stock in units and kshs (8marks)

Answer rating: 100% (QA)

aPreparation of the Stores ledger card for the transaction Received Issued Bal... View the full answer