ABC Co. uses perpetual inventory system while recording their inventory. They incurred the following transactions during past month; Date Transactions Apr 07 Purchased 5 machines for a unit cost of Rs.1000 each from their supplier Apr 12 Purchased 1 machines for a unit cost of Rs.1200 each from their supplier Apr 19 Sold 1 machines to a customer for sales price of 2500 each Apr 25 Sold 3 machines items to another customer for sales price of Rs.2800 each Required: Prepare the inventory subsidiary ledger for above transactions using Average cost method.
ABC Co. uses perpetual inventory system while recording their inventory. They incurred the following transactions during past month;
|
Date |
Transactions |
|
Apr 07 |
Purchased 5 machines for a unit cost of Rs.1000 each from their supplier |
|
Apr 12 |
Purchased 1 machines for a unit cost of Rs.1200 each from their supplier |
|
Apr 19 |
Sold 1 machines to a customer for sales price of 2500 each |
|
Apr 25 |
Sold 3 machines items to another customer for sales price of Rs.2800 each |
Required: Prepare the inventory subsidiary ledger for above transactions using Average cost method.
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