(c) The manager of Strathmore catering services Itd has been concerned by the lack of accurate store records in relation to Soko Baking flour. The manager is worried by the increasing Soko baking flour cost that has been incurred over the last few months. The following information has been extracted from the goods received note, invoices and other source documents. Soko Baking Flour June 3 Bought 100 Kgs @ 120 per Kg June 5 Bought 100 Kgs @ 140 per Kg June 6 Issued 150 Kgs June 8 Bought 250 Kgs @ 130 per Kg June 14 Issued 100 Kgs June 22 Bought 200 Kgs @ 150 per Kg June 28 Issued 200 Kgs
(c) The manager of Strathmore catering services Itd has been concerned by the lack of accurate store records in relation to Soko Baking flour. The manager is worried by the increasing Soko baking flour cost that has been incurred over the last few months. The following information has been extracted from the goods received note, invoices and other source documents. Soko Baking Flour June 3 Bought 100 Kgs @ 120 per Kg June 5 Bought 100 Kgs @ 140 per Kg June 6 Issued 150 Kgs June 8 Bought 250 Kgs @ 130 per Kg June 14 Issued 100 Kgs June 22 Bought 200 Kgs @ 150 per Kg June 28 Issued 200 Kgs
Managerial Accounting
15th Edition
ISBN:9781337912020
Author:Carl Warren, Ph.d. Cma William B. Tayler
Publisher:Carl Warren, Ph.d. Cma William B. Tayler
Chapter14: The Balanced Scorecard And Corporate Social Responsibility
Section: Chapter Questions
Problem 5E
Related questions
Question
Required:
i) Prepare the stock ledger account for Soko Baking flour using the Weighted Average price
method Month of June 2020
ii) From the above stock ledger account calculate the valuation of the closing stock of soko
baking flour as at end of the Month of June 2020
Expert Solution
This question has been solved!
Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.
This is a popular solution!
Trending now
This is a popular solution!
Step by step
Solved in 2 steps with 2 images
Recommended textbooks for you
Managerial Accounting
Accounting
ISBN:
9781337912020
Author:
Carl Warren, Ph.d. Cma William B. Tayler
Publisher:
South-Western College Pub
College Accounting (Book Only): A Career Approach
Accounting
ISBN:
9781337280570
Author:
Scott, Cathy J.
Publisher:
South-Western College Pub
Principles of Cost Accounting
Accounting
ISBN:
9781305087408
Author:
Edward J. Vanderbeck, Maria R. Mitchell
Publisher:
Cengage Learning
Managerial Accounting
Accounting
ISBN:
9781337912020
Author:
Carl Warren, Ph.d. Cma William B. Tayler
Publisher:
South-Western College Pub
College Accounting (Book Only): A Career Approach
Accounting
ISBN:
9781337280570
Author:
Scott, Cathy J.
Publisher:
South-Western College Pub
Principles of Cost Accounting
Accounting
ISBN:
9781305087408
Author:
Edward J. Vanderbeck, Maria R. Mitchell
Publisher:
Cengage Learning
Essentials of Business Analytics (MindTap Course …
Statistics
ISBN:
9781305627734
Author:
Jeffrey D. Camm, James J. Cochran, Michael J. Fry, Jeffrey W. Ohlmann, David R. Anderson
Publisher:
Cengage Learning
Excel Applications for Accounting Principles
Accounting
ISBN:
9781111581565
Author:
Gaylord N. Smith
Publisher:
Cengage Learning
Managerial Accounting: The Cornerstone of Busines…
Accounting
ISBN:
9781337115773
Author:
Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger
Publisher:
Cengage Learning