(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
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

(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
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
Expert Solution
trending now

Trending now

This is a popular solution!

steps

Step by step

Solved in 2 steps with 2 images

Blurred answer
Similar questions
  • SEE MORE QUESTIONS
Recommended textbooks for you
Managerial Accounting
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
College Accounting (Book Only): A Career Approach
Accounting
ISBN:
9781337280570
Author:
Scott, Cathy J.
Publisher:
South-Western College Pub
Principles of Cost Accounting
Principles of Cost Accounting
Accounting
ISBN:
9781305087408
Author:
Edward J. Vanderbeck, Maria R. Mitchell
Publisher:
Cengage Learning
Essentials of Business Analytics (MindTap Course …
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
Excel Applications for Accounting Principles
Accounting
ISBN:
9781111581565
Author:
Gaylord N. Smith
Publisher:
Cengage Learning
Managerial Accounting: The Cornerstone of Busines…
Managerial Accounting: The Cornerstone of Busines…
Accounting
ISBN:
9781337115773
Author:
Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger
Publisher:
Cengage Learning