(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
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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
Transcribed Image Text:(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
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