4. The stock of material held on 1-4-2018 was 400 units @ RO 50 per unit. The following receipts and issues were recorded. You are required to prepare the Stores Ledger Account, showing how the values of issues would be calculated under Base Stock Method, both through FIFO AND LIFO. 02-4-2018 Purchased 100 units @ RO 55 per unit 06-4-2018 Issued 400 units 10-4-2018 Purchased 600 units @ RO 55 per unit 13-4-2018 Issued 400 units 20-4-2018 Purchased 500 units @ RO 65 per unit. 25-4-2018 Issued 600 units

EBK CONTEMPORARY FINANCIAL MANAGEMENT
14th Edition
ISBN:9781337514835
Author:MOYER
Publisher:MOYER
Chapter16: Working Capital Policy And Short-term Financing
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4. The stock of material held on 1-4-2018 was 400 units @ RO 50 per unit. The
following receipts and issues were recorded. You are required to prepare the Stores
Ledger Account, showing how the values of issues would be calculated under Base
Stock Method, both through FIFO AND LIFO.
02-4-2018
Purchased 100 units @ RO 55 per unit
06-4-2018
Issued 400 units
10-4-2018
Purchased 600 units @ RO 55 per unit
13-4-2018
Issued 400 units
20-4-2018
Purchased 500 units @ RO 65
per
unit.
25-4-2018
Issued 600 units
Transcribed Image Text:4. The stock of material held on 1-4-2018 was 400 units @ RO 50 per unit. The following receipts and issues were recorded. You are required to prepare the Stores Ledger Account, showing how the values of issues would be calculated under Base Stock Method, both through FIFO AND LIFO. 02-4-2018 Purchased 100 units @ RO 55 per unit 06-4-2018 Issued 400 units 10-4-2018 Purchased 600 units @ RO 55 per unit 13-4-2018 Issued 400 units 20-4-2018 Purchased 500 units @ RO 65 per unit. 25-4-2018 Issued 600 units
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