X Ltd has purchased and issued the material on the following order: Jan
1. purchased 300 untis at Rs. 3 per unit
4. purchased 600 units at Rs. 4 per unit
6. Issued 500 units
10. Purchased 700 units at Rs. 4 per unit 15. Issued 800 units
20. Purchased 300 units at Rs. 5 per unit
23. Issued 100 units.
Prepare store Ledger Account. Ascertain the closing stock value under
(a) Average cost
(b) FIFO and
(c) LIFO method

Answer rating: 100% (QA)

Weighted average Date Receipts Issues Balance Jan GRno Qty rate Rs SRno Qty rate Rs Qty Rate Rs 1 30... View the full answer