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1- Sept Balance On Hand 60 at 1.90 each $ 114 | 8 - Sept Purchase 240 at $2 each $ 480 14- Sept Isue 100 to Production line 20 Issued 80 to Production line 22 20 Returned to store as excess material 26 Purchase 100 at $2.2 each $220 29 Return 20 to Supplier (Purchased on 26 sept)

1- Sept Balance On Hand 60 at 1.90 each $ 114 | 8 - Sept Purchase 240 at $2 each $ 480 14- Sept Isue 100 to Production line 20 Issued 80 to Production line 22 20 Returned to store as excess material 26 Purchase 100 at $2.2 each $220 29 Return 20 to Supplier (Purchased on 26 sept)

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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4. J.K Manufacturing Ltd., a small computer manufacturer and record inventory through the Perpatual Inventory system. The 4525T CMOS Convention Movement for November is: a / Show how to record this stock in Store record using: • FIFO costing • Weighted Average Costing b / Introduce the seal in the form of a general journal (General Journal)
1- Sept Balance On Hand 60 at 1.90 each $ 114 | 8 - Sept Purchase 240 at $2 each $ 480 14- Sept Isue 100 to Production line 20 Issued 80 to Production line 22 20 Returned to store as excess material 26 Purchase 100 at $2.2 each $220 29 Return 20 to Supplier (Purchased on 26 sept)
Transcribed Image Text:1- Sept Balance On Hand 60 at 1.90 each $ 114 | 8 - Sept Purchase 240 at $2 each $ 480 14- Sept Isue 100 to Production line 20 Issued 80 to Production line 22 20 Returned to store as excess material 26 Purchase 100 at $2.2 each $220 29 Return 20 to Supplier (Purchased on 26 sept)
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