Answer to Question #295636 in Economics for abhii

Question

From the following Data, prepare the stores ledger account as per Perpetual inventory System

and Calculate Value of Inventory on March 31, 2019 using

(i) Last –In – First – Out method

(ii) Weighted Average Cost method

1 st March-2019 ------------------- 400 units @7.50 each

Purchase

5 th March-2019 ---------------------- 600 units @ 8.00 each

15 March -2019 -------------------- 500 units @9.00 each

21 March -2019 ------------------- -- 400 units @ 8.50 each

Issues

3- March -2019 ------------------ 300 units

10 – March-2019 ----------------- 500 units

17 – March-2019 ------------------- 400 units.

Answer 1

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