Kind Gestures Company is a leading producer of Akohia Soap in the Eastern Region of Ghana. The following information relate to a component part used in manufacturing Akohia Soap for the period ended 31st August, 2020. Units Total Cost (GH¢) Stock on hand at January 1, 2020 2,000 100,000 Purchases made during the period; January 4,000 200,000
Assignment:
Kind Gestures Company is a leading producer of Akohia Soap in the Eastern Region of Ghana.
The following information relate to a component part used in manufacturing Akohia Soap for the period ended 31st August, 2020.
Units Total Cost (GH¢)
Stock on hand at January 1, 2020 2,000 100,000
Purchases made during the period;
January 4,000 200,000
March 3,000 180,000
May 8,000 640,000
July 2,000 100,000
Issues made during the period;
February 5,000
April 1,000
June 1,800
August 2,500
Required;
a. Using the Last-in-first-out method, prepare the Store Ledger Account for the period ended
31st August, 2020.
b. One of the key methods of inventory control in modern times is the just-in-time system,
list and explain 3 benefits of this system to a manufacturing company in Ghana.
c. Explain three (3) importance of
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