enter the following transactions in the stores ledger of material y using the i fifo 558879

Enter the following transactions in the stores ledger of material Y using the (i) FIFO and (ii) LIFO methods:

May 1980

1

Balance of 250 units at Re 1 per unit

3

Issued 50 units on MR number 61

6

Received 800 units, vide goods received [note number 13] at Rs 1.10 per unit

7

Issued 300 units on MR number 63

8

Returned to stores 20 units issued on MR number 61

12

Received 300 units as per GRN number 15 at Rs 1.20 per unit

15

Issued 320 units [MR number 83]

18

Received 100 units, vide GRN number 77 at 1.20 per unit

20

Issued 80 units [MR number 102]

23

Returned to vendors 20 units from GRN number 77 received on 18 May

26

Received 200 units on GRN number 96 at Re 1 per unit

28

Freight paid on purchase [vide GRN number 96] Rs 50

30

Issued 250 units on MR number 113

Submit a Comment