(d) 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. June 1 June 3 June 5 June 6 June 8 June 14 June 22 June 28 Soko Baking Flour Opening stock was 98 Kgs @95.50 per Kg Bought 114 Kgs @ 120.50 per Kg Bought 103 Kgs @ 140 per Kg Issued 152 Kgs Bought 258 Kgs @ 130 per Kg Issued 100 Kgs Bought 200 Kgs @ 150 per kg Issued 205 Kgs Change Case Required: Prepare the stock ledger account for Soko Baking flour using the LIFO method Month of June 0

(d) 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. June 1 June 3 June 5 June 6 June 8 June 14 June 22 June 28 Soko Baking Flour Opening stock was 98 Kgs @95.50 per Kg Bought 114 Kgs @ 120.50 per Kg Bought 103 Kgs @ 140 per Kg Issued 152 Kgs Bought 258 Kgs @ 130 per Kg Issued 100 Kgs Bought 200 Kgs @ 150 per kg Issued 205 Kgs Change Case Required: Prepare the stock ledger account for Soko Baking flour using the LIFO method Month of June 0

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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