\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 July, 1<\/span><\/p>\n<\/td>\n

Opening inventory<\/span><\/p>\n<\/td>\n

800 units @ Rs 5<\/span><\/p>\n<\/td>\n<\/tr>\n

\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 July, 8<\/span><\/p>\n<\/td>\n

Purchase<\/span><\/p>\n<\/td>\n

700 units @ Rs 6<\/span><\/p>\n<\/td>\n<\/tr>\n

\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 July, 15<\/span><\/p>\n<\/td>\n

Issue<\/span><\/p>\n<\/td>\n

1,300 units<\/span><\/p>\n<\/td>\n<\/tr>\n

\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 July, 25<\/span><\/p>\n<\/td>\n

Purchase<\/span><\/p>\n<\/td>\n

300 units @ Rs 5.5<\/span><\/p>\n<\/td>\n<\/tr>\n

\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 July, 29<\/span><\/p>\n<\/td>\n

Issue<\/span><\/p>\n<\/td>\n

320 units<\/span><\/p>\n<\/td>\n<\/tr>\n

\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 July, 30<\/span><\/p>\n<\/td>\n

Shortage<\/span><\/p>\n<\/td>\n

10 units<\/span><\/p>\n<\/td>\n<\/tr>\n

\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 July, 31<\/span><\/p>\n<\/td>\n

Return from process B to process A<\/span><\/p>\n<\/td>\n

15 units\u00a0 <\/span><\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

Required:<\/span>\u00a0 Store ledger under FIFO method<\/span><\/p>\n

[Answer: Closing stock 170 units; Rs 935]<\/span><\/i><\/p>\n

* No entry for materials returned from process B to A<\/span><\/i><\/p>\n

Here, Amount = Rs = $ = \u00a3 = \u20ac = <\/span>\u20b9<\/span> = Af = <\/span>\u09f3 <\/span>= Nu = Rf = <\/span>\u0dbb\u0dd4<\/span> = Currency of your country<\/span>\u00a0 <\/span><\/p>\n

PROBLEM: 2 <\/span><\/b><\/p>\n

\u00a0The following are the details of receipts and issues of a material during May:<\/span><\/p>\n\n\n\n\n\n\n\n\n\n\n

\n 1.<\/span><\/p>\n<\/td>\n	\n Opening stock<\/span><\/p>\n<\/td>\n	\n 200 units @ Rs 10 each<\/span><\/p>\n<\/td>\n<\/tr>\n
\n 3.<\/span><\/p>\n<\/td>\n	\n Purchased<\/span><\/p>\n<\/td>\n	\n 800 units @ Rs 11 each<\/span><\/p>\n<\/td>\n<\/tr>\n
\n 5.<\/span><\/p>\n<\/td>\n	\n Issued<\/span><\/p>\n<\/td>\n	\n 500 units<\/span><\/p>\n<\/td>\n<\/tr>\n
\n 8.<\/span><\/p>\n<\/td>\n	\n Purchased<\/span><\/p>\n<\/td>\n	\n 300 units @ Rs 12 each<\/span><\/p>\n<\/td>\n<\/tr>\n
\n 10.<\/span><\/p>\n<\/td>\n	\n Returned to vendor<\/span><\/p>\n<\/td>\n	\n 100 units purchased on 3rd<\/sup> May<\/span><\/p>\n<\/td>\n<\/tr>\n
\n 12.<\/span><\/p>\n<\/td>\n	\n Refund of surplus from a work order<\/span><\/p>\n<\/td>\n	\n 10 units from opening stock lot<\/span><\/p>\n<\/td>\n<\/tr>\n
\n 20.<\/span><\/p>\n<\/td>\n	\n Issued<\/span><\/p>\n<\/td>\n	\n 600 units<\/span><\/p>\n<\/td>\n<\/tr>\n
\n 25.<\/span><\/p>\n<\/td>\n	\n Materials lost<\/span><\/p>\n<\/td>\n	\n 10 units <\/span><\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n Required:<\/span> Store ledger under FIFO method by showing received, issued and balance. <\/span><\/p>\n [Answer: 100 units; Rs 1,200]<\/span><\/i><\/p>\n *Returned from work order is recorded earliest;<\/span><\/i><\/p>\n \u00a0<\/span><\/p>\n Here, Amount = Rs = $ = \u00a3 = \u20ac = <\/span>\u20b9<\/span> = Af = <\/span>\u09f3 <\/span>= Nu = Rf = <\/span>\u0dbb\u0dd4<\/span> = Currency of your country<\/span>\u00a0 <\/span><\/p>\n PROBLEM: 3 <\/i><\/span><\/b><\/p>\n Given below are the transactions of a certain materials for the month of December: <\/span><\/p>\n\n\n\n\n\n\n\n\n\n\n\n \n December, 1<\/span><\/p>\n<\/td>\n \n Opening stock<\/span><\/p>\n<\/td>\n \n 800 units @ Rs 100 per unit<\/span><\/p>\n<\/td>\n<\/tr>\n \n 11<\/span><\/p>\n<\/td>\n \n Purchased<\/span><\/p>\n<\/td>\n \n 900 units @ Rs 110 per unit<\/span><\/p>\n<\/td>\n<\/tr>\n \n 17<\/span><\/p>\n<\/td>\n \n Issued<\/span><\/p>\n<\/td>\n \n 1,000 units <\/span><\/p>\n<\/td>\n<\/tr>\n \n 20<\/span><\/p>\n<\/td>\n \n Purchased<\/span><\/p>\n<\/td>\n \n 1,200 units @ Rs 120 per unit<\/span><\/p>\n<\/td>\n<\/tr>\n \n 23<\/span><\/p>\n<\/td>\n \n Issued<\/span><\/p>\n<\/td>\n \n 700 units <\/span><\/p>\n<\/td>\n<\/tr>\n \n 25<\/span><\/p>\n<\/td>\n \n Purchased<\/span><\/p>\n<\/td>\n \n 500 units @ Rs 130 per unit<\/span><\/p>\n<\/td>\n<\/tr>\n \n 27<\/span><\/p>\n<\/td>\n \n Return from works<\/span><\/p>\n<\/td>\n \n 30 units out of 23rd<\/sup> Dec.<\/span><\/p>\n<\/td>\n<\/tr>\n \n 28<\/span><\/p>\n<\/td>\n \n Stock verification and loss<\/span><\/p>\n<\/td>\n \n 10 units<\/span><\/p>\n<\/td>\n<\/tr>\n \n 30<\/span><\/p>\n<\/td>\n \n Issued<\/span><\/p>\n<\/td>\n \n 300 units \u00a0 <\/span><\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n Required:<\/span> Store ledger under first-in first- out method<\/span><\/p>\n \u00a0[Answer: (920 + 500) = 1,420 units; <\/span><\/i><\/p>\n (110,400 + 65,000) = Rs 175,400]<\/span><\/i><\/p>\n *Materials return is from old stock, so it is recorded first.<\/span><\/i><\/p>\n \u00a0<\/span><\/p>\n Here, Amount = Rs = $ = \u00a3 = \u20ac = <\/span>\u20b9<\/span> = Af = <\/span>\u09f3 <\/span>= Nu = Rf = <\/span>\u0dbb\u0dd4<\/span> = Currency of your country<\/span>\u00a0 <\/span><\/p>\n PROBLEM: 4 <\/span><\/b><\/p>\n ABC Rice Mill runs through four processes A, B, C and D has following transactions of paddy:<\/span><\/p>\n\n\n\n\n\n\n\n\n\n\n \n March 1:<\/span><\/p>\n<\/td>\n \n Opening stock of paddy<\/span><\/p>\n<\/td>\n \n 800 units @ Rs 22 per kg<\/span><\/p>\n<\/td>\n<\/tr>\n \n 6:<\/span><\/p>\n<\/td>\n \n Received from suppliers<\/span><\/p>\n<\/td>\n \n 1,100 kg paddy @ Rs 23 per unit<\/span><\/p>\n<\/td>\n<\/tr>\n \n 14:<\/span><\/p>\n<\/td>\n \n Issued<\/span><\/p>\n<\/td>\n \n 1,400 kg<\/span><\/p>\n<\/td>\n<\/tr>\n \n 21:<\/span><\/p>\n<\/td>\n \n Returned to suppliers<\/span><\/p>\n<\/td>\n \n 100 kg\u00a0 <\/span><\/p>\n<\/td>\n<\/tr>\n \n 24:<\/span><\/p>\n<\/td>\n \n Received from suppliers<\/span><\/p>\n<\/td>\n \n 1,700 kg paddy @ Rs 24 per kg <\/span><\/p>\n<\/td>\n<\/tr>\n \n 26:<\/span><\/p>\n<\/td>\n \n Issued<\/span><\/p>\n<\/td>\n \n 700 kg\u00a0 <\/span><\/p>\n<\/td>\n<\/tr>\n \n 27:<\/span><\/p>\n<\/td>\n \n Returned from process D to process A<\/span><\/p>\n<\/td>\n \n 25 kg.<\/span><\/p>\n<\/td>\n<\/tr>\n \n 28:<\/span><\/p>\n<\/td>\n \n Credit note of stock verification<\/span><\/p>\n<\/td>\n \n 20 kg.<\/span><\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n Required: Store ledger under FIFO method\u00a0\u00a0\u00a0\u00a0 <\/span><\/p>\n [Answer: 1,680 units, Rs 40,320; * No entry for March 27]<\/span><\/i><\/p>\n \u00a0<\/span><\/b><\/p>\n Here, Amount = Rs = $ = \u00a3 = \u20ac = <\/span>\u20b9<\/span> = Af = <\/span>\u09f3 <\/span>= Nu = Rf = <\/span>\u0dbb\u0dd4<\/span> = Currency of your country<\/span>\u00a0 <\/span><\/p>\n PROBLEM: 5 <\/span><\/b><\/p>\n MC Sause Industry has following stores transactions for the month of December: <\/span><\/p>\n\n\n\n\n\n\n\n\n\n\n \n 1:<\/span><\/p>\n<\/td>\n \n Opening stock<\/span><\/p>\n<\/td>\n \n 1,000 kg tomato @ Rs 10 per kg<\/span><\/p>\n<\/td>\n<\/tr>\n \n 4:<\/span><\/p>\n<\/td>\n \n Purchased<\/span><\/p>\n<\/td>\n \n 800 kg tomato @ Rs 10.50 per kg<\/span><\/p>\n<\/td>\n<\/tr>\n \n 5:<\/span><\/p>\n<\/td>\n \n Issued<\/span><\/p>\n<\/td>\n \n 1,200 kg<\/span><\/p>\n<\/td>\n<\/tr>\n \n 7:<\/span><\/p>\n<\/td>\n \n Purchased<\/span><\/p>\n<\/td>\n \n 400 kg tomato @ Rs 11 per kg <\/span><\/p>\n<\/td>\n<\/tr>\n \n 9:<\/span><\/p>\n<\/td>\n \n Issued<\/span><\/p>\n<\/td>\n \n 600 kg<\/span><\/p>\n<\/td>\n<\/tr>\n \n 10:<\/span><\/p>\n<\/td>\n \n Received back<\/span><\/p>\n<\/td>\n \n 20 kg from production house<\/span><\/p>\n<\/td>\n<\/tr>\n \n 12:<\/span><\/p>\n<\/td>\n \n Purchased<\/span><\/p>\n<\/td>\n \n 600 kg tomato @ Rs 12 per kg<\/span><\/p>\n<\/td>\n<\/tr>\n \n 14:<\/span><\/p>\n<\/td>\n \n Issued<\/span><\/p>\n<\/td>\n \n 500 kg\u00a0\u00a0 <\/span><\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n On 15th<\/sup> Dec, when the stock is verified, it is found that actual stock is more by 20 kg <\/span><\/p>\n Required: Store ledger under FIFO method showing received, issued and balance <\/span><\/p>\n \u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 [Answer: 540 units, Rs 6,480; <\/i><\/span><\/p>\n *Surplus 20 units @ Rs 12 = Rs 240;<\/span><\/i><\/p>\n \u00a0<\/span><\/p>\n Here, Amount = Rs = $ = \u00a3 = \u20ac = <\/span>\u20b9<\/span> = Af = <\/span>\u09f3 <\/span>= Nu = Rf = <\/span>\u0dbb\u0dd4<\/span> = Currency of your country<\/span>\u00a0 <\/span><\/p>\n PROBLEM: 6 <\/span><\/b><\/p>\n AB Snackes Industry makes potato chips. The industry has following data related to potato: <\/span><\/p>\n\n\n\n\n\n\n\n\n\n\n\n \n August 1:<\/span><\/p>\n<\/td>\n \n Opening stock<\/span><\/p>\n<\/td>\n \n 600 kg potato @ Rs 20 per kg<\/span><\/p>\n<\/td>\n<\/tr>\n \n \u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 4:<\/span><\/p>\n<\/td>\n \n Issued<\/span><\/p>\n<\/td>\n \n 300 kg\u00a0 <\/span><\/p>\n<\/td>\n<\/tr>\n \n \u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 11:<\/span><\/p>\n<\/td>\n \n Purchased<\/span><\/p>\n<\/td>\n \n 200 kg potato @ Rs 19 per kg <\/span><\/p>\n<\/td>\n<\/tr>\n \n \u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 14:<\/span><\/p>\n<\/td>\n \n Returned <\/span><\/p>\n<\/td>\n \n 20 kg from production<\/span><\/p>\n<\/td>\n<\/tr>\n \n \u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 18:<\/span><\/p>\n<\/td>\n \n Issued<\/span><\/p>\n<\/td>\n \n 350 kg <\/span><\/p>\n<\/td>\n<\/tr>\n \n \u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 20:<\/span><\/p>\n<\/td>\n \n Purchased<\/span><\/p>\n<\/td>\n \n 300 kg potato @ Rs 21 per kg<\/span><\/p>\n<\/td>\n<\/tr>\n \n \u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 22:<\/span><\/p>\n<\/td>\n \n Rotten of potato<\/span><\/p>\n<\/td>\n \n 5 kg threw.<\/span><\/p>\n<\/td>\n<\/tr>\n \n \u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 24:<\/span><\/p>\n<\/td>\n \n There was<\/span><\/p>\n<\/td>\n \n 5 kg potato under wright purchased on Aug 20.<\/span><\/p>\n<\/td>\n<\/tr>\n \n \u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 23:<\/span><\/p>\n<\/td>\n \n Issued<\/span><\/p>\n<\/td>\n \n 320 kg <\/span><\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n Required: Store ledger under first-in-first-out method\u00a0\u00a0\u00a0\u00a0\u00a0 <\/span><\/p>\n \u00a0[Answer: 140 kg; Rs 2,940; <\/span><\/i><\/p>\n *Rotten and underweight are deducted;<\/span><\/i><\/p>\n Here, Amount = Rs = $ = \u00a3 = \u20ac = <\/span>\u20b9<\/span> = Af = <\/span>\u09f3 <\/span>= Nu = Rf = <\/span>\u0dbb\u0dd4<\/span> = Currency of your country<\/span>\u00a0 <\/span><\/p>\n PROBLEM: 7 <\/span><\/b><\/p>\n Store transactions of BN Company Limited for the month of August are given below: <\/span><\/p>\n\n\n\n\n\n\n\n\n\n \n Aug, 1<\/span><\/p>\n<\/td>\n \n : Opening balance<\/span><\/p>\n<\/td>\n \n : 1,000 units @ Rs 20 each <\/span><\/p>\n<\/td>\n<\/tr>\n \n 4<\/span><\/p>\n<\/td>\n \n : Purchased<\/span><\/p>\n<\/td>\n \n : 800 units @ Rs 21 each <\/span><\/p>\n<\/td>\n<\/tr>\n \n 5<\/span><\/p>\n<\/td>\n \n : Issued<\/span><\/p>\n<\/td>\n \n : 1,200 units <\/span><\/p>\n<\/td>\n<\/tr>\n \n 7<\/span><\/p>\n<\/td>\n \n : Purchased<\/span><\/p>\n<\/td>\n \n : 400 units @ Rs 22 each <\/span><\/p>\n<\/td>\n<\/tr>\n \n 15<\/span><\/p>\n<\/td>\n \n : Issued<\/span><\/p>\n<\/td>\n \n : 600 units<\/span><\/p>\n<\/td>\n<\/tr>\n \n 21<\/span><\/p>\n<\/td>\n \n : Received back<\/span><\/p>\n<\/td>\n \n : 50 units @ Rs 21 from work order<\/span><\/p>\n<\/td>\n<\/tr>\n \n 25<\/span><\/p>\n<\/td>\n \n : Stock verification and loss<\/span><\/p>\n<\/td>\n \n : 25 units <\/span><\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n Required: <\/i>Store ledger under FIFO method <\/span><\/p>\n \u00a0[Answer:\u00a0 (25 + 400) = 425 units; <\/span><\/i><\/p>\n Rs (525 + 8,800) = Rs 9,325;<\/span><\/i><\/p>\n *50 units are recorded as earliest receipt than balance 400 units;<\/span><\/i><\/p>\n \u00a0<\/span><\/p>\n Here, Amount = Rs = $ = \u00a3 = \u20ac = <\/span>\u20b9<\/span> = Af = <\/span>\u09f3 <\/span>= Nu = Rf = <\/span>\u0dbb\u0dd4<\/span> = Currency of your country<\/span>\u00a0 <\/span><\/p>\n PROBLEM: 8<\/span><\/b><\/p>\n BC Dairy has following data related to the receipts and issues (delivery) of milk:<\/span><\/p>\n\n\n\n\n\n\n\n\n\n\n\n\n \n <\/a>May 1<\/span><\/p>\n<\/td>\n \n Opening stock 540 liter of milk @ Rs 40 per liter<\/span><\/p>\n<\/td>\n<\/tr>\n \n May 2<\/span><\/p>\n<\/td>\n \n Issued (delivery) 500 liter of milk<\/span><\/p>\n<\/td>\n<\/tr>\n \n May\u00a0 3<\/span><\/p>\n<\/td>\n \n Purchased 600 liter of milk @ Rs 40 per liter<\/span><\/p>\n<\/td>\n<\/tr>\n \n May 4<\/span><\/p>\n<\/td>\n \n Issued (delivery) 450 liter of milk<\/span><\/p>\n<\/td>\n<\/tr>\n \n May\u00a0 5<\/span><\/p>\n<\/td>\n \n Purchased 600 liter of milk @ Rs 45 per liter<\/span><\/p>\n<\/td>\n<\/tr>\n \n May\u00a0 5<\/span><\/p>\n<\/td>\n \n Added 50 liter of water in the lot of May 15<\/span><\/p>\n<\/td>\n<\/tr>\n \n May 6<\/span><\/p>\n<\/td>\n \n Issued (delivery) 550 liter of milk<\/span><\/p>\n<\/td>\n<\/tr>\n \n May 7<\/span><\/p>\n<\/td>\n \n Purchased 600 liter of milk @ Rs 41 per liter<\/span><\/p>\n<\/td>\n<\/tr>\n \n May\u00a0 8<\/span><\/p>\n<\/td>\n \n Return from packing department 40 liter of May 6 <\/span><\/p>\n<\/td>\n<\/tr>\n \n May\u00a0 9<\/span><\/p>\n<\/td>\n \n Issued (delivery) 600 liter of milk <\/span><\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n Required: Store ledger under FIFO method showing component received, issued and balance. <\/span><\/p>\n [Answer: 330 liter; Rs 13,530] * Added water meand surplus;<\/span><\/i><\/p>\n *Return from packing departmrnt is old stock @ Rs 40 per liter;<\/span><\/i><\/p>\n \u00a0<\/span><\/b><\/p>\n LAST IN FIRST OUT (LIFO)<\/span><\/b><\/p>\n \u00a0<\/span><\/p>\n Here, Amount = Rs = $ = \u00a3 = \u20ac = <\/span>\u20b9<\/span> = Af = <\/span>\u09f3 <\/span>= Nu = Rf = <\/span>\u0dbb\u0dd4<\/span> = Currency of your country<\/span>\u00a0 <\/span><\/p>\n PROBLEM: 9 <\/span><\/b><\/p>\n A Firm provides electrical parts transactions for the month of April: <\/span><\/p>\n\n\n\n\n\n\n\n\n\n\n\n \n 1<\/span><\/p>\n<\/td>\n \n Opening balance 250 units @ Rs 5 per unit<\/span><\/p>\n<\/td>\n<\/tr>\n \n 2<\/span><\/p>\n<\/td>\n \n Receipts from vendor 1000 units @ Rs 6 per unit<\/span><\/p>\n<\/td>\n<\/tr>\n \n 5<\/span><\/p>\n<\/td>\n \n Issued 750 units<\/span><\/p>\n<\/td>\n<\/tr>\n \n 8<\/span><\/p>\n<\/td>\n \n Receipts from vendor 1000 units @ Rs 7 per unit<\/span><\/p>\n<\/td>\n<\/tr>\n \n 9<\/span><\/p>\n<\/td>\n \n Returned to vendor 100 units out of purchase on 2nd<\/sup> April.<\/span><\/p>\n<\/td>\n<\/tr>\n \n 12<\/span><\/p>\n<\/td>\n \n Issued 1000 units<\/span><\/p>\n<\/td>\n<\/tr>\n \n 15<\/span><\/p>\n<\/td>\n \n Returned from departmental issued on 5th<\/sup> April, 20 units<\/span><\/p>\n<\/td>\n<\/tr>\n \n 16<\/span><\/p>\n<\/td>\n \n Issued 100 units<\/span><\/p>\n<\/td>\n<\/tr>\n \n 25<\/span><\/p>\n<\/td>\n \n Shortage in stock taking 10 units<\/span><\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n Required: Prepare store ledger under LIFO method showing received, issued and balance. <\/span><\/p>\n [Answer:\u00a0 (250 + 60) = 310 units; Rs (1,250 + 360) = 1,610;<\/span><\/i><\/p>\n *Returned from department is added with same rate balance;<\/span><\/i><\/p>\n \u00a0<\/span><\/p>\n Here, Amount = Rs = $ = \u00a3 = \u20ac = <\/span>\u20b9<\/span> = Af = <\/span>\u09f3 <\/span>= Nu = Rf = <\/span>\u0dbb\u0dd4<\/span> = Currency of your country<\/span>\u00a0 <\/span><\/p>\n PROBLEM: 10<\/span><\/b><\/p>\n The following are the store transactions of a certain material during the month of November: <\/span><\/p>\n\n\n\n\n\n\n\n\n\n\n\n \n Nov 1<\/span><\/p>\n<\/td>\n \n Stock in hand 200 units @ Rs 50 each<\/span><\/p>\n<\/td>\n<\/tr>\n \n Nov 4<\/span><\/p>\n<\/td>\n \n Purchase 400 units @ Rs 60 each<\/span><\/p>\n<\/td>\n<\/tr>\n \n Nov 7<\/span><\/p>\n<\/td>\n \n Issued 300 units<\/span><\/p>\n<\/td>\n<\/tr>\n \n Nov 12<\/span><\/p>\n<\/td>\n \n Purchase 100 units @ Rs 70 each<\/span><\/p>\n<\/td>\n<\/tr>\n \n Nov 16<\/span><\/p>\n<\/td>\n \n Returned to store 50 units (issued out of opening stock)<\/span><\/p>\n<\/td>\n<\/tr>\n \n Nov 20<\/span><\/p>\n<\/td>\n \n Purchased 200 units @ Rs 80 each<\/span><\/p>\n<\/td>\n<\/tr>\n \n Nov 25<\/span><\/p>\n<\/td>\n \n Issued 400 units<\/span><\/p>\n<\/td>\n<\/tr>\n \n Nov 28<\/span><\/p>\n<\/td>\n \n Stock verification surplus 20 units<\/span><\/p>\n<\/td>\n<\/tr>\n \n Nov 30<\/span><\/p>\n<\/td>\n \n Issued 100 units<\/span><\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n Required: Store ledger under the LIFO method<\/span><\/p>\n [Answer: 170 units, Rs 8,500]<\/span><\/i><\/p>\n \u00a0<\/span><\/p>\n Here, Amount = Rs = $ = \u00a3 = \u20ac = <\/span>\u20b9<\/span> = Af = <\/span>\u09f3 <\/span>= Nu = Rf = <\/span>\u0dbb\u0dd4<\/span> = Currency of your country<\/span>\u00a0 <\/span><\/p>\n PROBLEM: 11<\/span><\/b><\/p>\n A company has purchased and issued the material in following orders: <\/span><\/p>\n\n\n\n\n\n\n\n\n\n\n\n\n \n Oct, 1:<\/span><\/p>\n<\/td>\n \n Opening stock 500 units @ Rs 10<\/span><\/p>\n<\/td>\n<\/tr>\n \n \u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 3:<\/span><\/p>\n<\/td>\n \n Issued 200 units <\/span><\/p>\n<\/td>\n<\/tr>\n \n \u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 6:<\/span><\/p>\n<\/td>\n \n Transfer of materials from production unit B to A 25 units.<\/span><\/p>\n<\/td>\n<\/tr>\n \n \u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 10:<\/span><\/p>\n<\/td>\n \n Purchased 200 units @ Rs 9 per unit<\/span><\/p>\n<\/td>\n<\/tr>\n \n \u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 15:<\/span><\/p>\n<\/td>\n \n Returned of surplus from a work order 10 units @ Rs 9.50 per unit<\/span><\/p>\n<\/td>\n<\/tr>\n \n \u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 18:<\/span><\/p>\n<\/td>\n \n Issued 180 units <\/span><\/p>\n<\/td>\n<\/tr>\n \n \u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 20:<\/span><\/p>\n<\/td>\n \n Purchased 300 units @ Rs 9.40 per unit<\/span><\/p>\n<\/td>\n<\/tr>\n \n \u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 21:<\/span><\/p>\n<\/td>\n \n Issued 400 units <\/span><\/p>\n<\/td>\n<\/tr>\n \n \u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 25:<\/span><\/p>\n<\/td>\n \n Shortage in stock 10 units <\/span><\/p>\n<\/td>\n<\/tr>\n \n \u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 28:<\/span><\/p>\n<\/td>\n \n Issued 100 units <\/span><\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n Required: Store ledger under last-in-first-out method\u00a0\u00a0\u00a0\u00a0\u00a0 <\/span><\/p>\n [Answer: 120 units, Rs 1,200]<\/span><\/i><\/p>\n \u00a0<\/span><\/p>\n Here, Amount = Rs = $ = \u00a3 = \u20ac = <\/span>\u20b9<\/span> = Af = <\/span>\u09f3 <\/span>= Nu = Rf = <\/span>\u0dbb\u0dd4<\/span> = Currency of your country<\/span>\u00a0 <\/span><\/p>\n PROBLEM: 12<\/span><\/b><\/p>\n Following are the store transactions of certain materials during the month of April: <\/span><\/p>\n\n\n\n\n\n\n\n\n\n\n\n \n April\u00a0 1:<\/span><\/p>\n<\/td>\n \n Opening stock 500 units @ Rs 10 per unit <\/span><\/p>\n<\/td>\n<\/tr>\n \n \u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 5:<\/span><\/p>\n<\/td>\n \n Purchased 2,000 units @ Rs 12 per unit<\/span><\/p>\n<\/td>\n<\/tr>\n \n \u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 8:<\/span><\/p>\n<\/td>\n \n Issued 1,500 units<\/span><\/p>\n<\/td>\n<\/tr>\n \n \u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 12:<\/span><\/p>\n<\/td>\n \n Purchased 2,000 units @ Rs 14 per unit<\/span><\/p>\n<\/td>\n<\/tr>\n \n \u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 14:<\/span><\/p>\n<\/td>\n \n Returned to vendor 200 units out of purchased on 5th<\/sup> April<\/span><\/p>\n<\/td>\n<\/tr>\n \n \u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 16:<\/span><\/p>\n<\/td>\n \n Issued 2,000 units <\/span><\/p>\n<\/td>\n<\/tr>\n \n \u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 18:<\/span><\/p>\n<\/td>\n \n Returned from the department, 40 units issued on 8th<\/sup> April<\/span><\/p>\n<\/td>\n<\/tr>\n \n \u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 20:<\/span><\/p>\n<\/td>\n \n Issued 200 units <\/span><\/p>\n<\/td>\n<\/tr>\n \n \u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 25:<\/span><\/p>\n<\/td>\n \n Stock verification and fall short 20 units \u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 <\/span><\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n Required<\/span>: Store ledger under last-in-first-out method<\/span><\/p>\n \u00a0[Answer:\u00a0 (500 + 120) = 620 units; <\/span><\/i><\/p>\n Rs (5,000 + 1,440) = Rs 6,440;<\/span><\/i><\/p>\n *40 units are added with old stock of Rs 12 per unit <\/span><\/i><\/p>\n \u00a0<\/span><\/p>\n \u00a0<\/span><\/b><\/p>\n Here, Amount = Rs = $ = \u00a3 = \u20ac = <\/span>\u20b9<\/span> = Af = <\/span>\u09f3 <\/span>= Nu = Rf = <\/span>\u0dbb\u0dd4<\/span> = Currency of your country<\/span>\u00a0 <\/span><\/p>\n PROBLEM: 13 <\/span><\/b><\/p>\n Following receipts are issues of a material were made during the month of April. Stock on 1st<\/sup> April was 500 units @ Rs 20 each. <\/span><\/p>\n\n\n\n\n\n\n\n\n\n\n \n Date<\/span><\/p>\n<\/td>\n \n Quantity purchased<\/span><\/p>\n<\/td>\n \n Purchase price per unit<\/span><\/p>\n<\/td>\n \n Quantity issued<\/span><\/p>\n<\/td>\n<\/tr>\n \n April 3<\/span><\/p>\n<\/td>\n \n –<\/span><\/p>\n<\/td>\n \n –<\/span><\/p>\n<\/td>\n \n 200 units<\/span><\/p>\n<\/td>\n<\/tr>\n \n April 5<\/span><\/p>\n<\/td>\n \n 800 units<\/span><\/p>\n<\/td>\n \n Rs 21<\/span><\/p>\n<\/td>\n \n –<\/span><\/p>\n<\/td>\n<\/tr>\n \n April 8<\/span><\/p>\n<\/td>\n \n –<\/span><\/p>\n<\/td>\n \n –<\/span><\/p>\n<\/td>\n \n 400 units<\/span><\/p>\n<\/td>\n<\/tr>\n \n April 10<\/span><\/p>\n<\/td>\n \n –<\/span><\/p>\n<\/td>\n \n –<\/span><\/p>\n<\/td>\n \n 300 units<\/span><\/p>\n<\/td>\n<\/tr>\n \n April 15<\/span><\/p>\n<\/td>\n \n 500 units<\/span><\/p>\n<\/td>\n \n Rs 22<\/span><\/p>\n<\/td>\n \n –<\/span><\/p>\n<\/td>\n<\/tr>\n \n April 18<\/span><\/p>\n<\/td>\n \n –<\/span><\/p>\n<\/td>\n \n –<\/span><\/p>\n<\/td>\n \n 500 units<\/span><\/p>\n<\/td>\n<\/tr>\n \n April 25<\/span><\/p>\n<\/td>\n \n 200 units<\/span><\/p>\n<\/td>\n \n Rs 22<\/span><\/p>\n<\/td>\n \n –<\/span><\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n Issued are to be priced under last-in-first-out method. On 18th<\/sup> April, a physical verification was made when the verifier notified that there is shortage of 20 units in stock. <\/span><\/p>\n Required:<\/span> Store ledger account\u00a0\u00a0\u00a0\u00a0 <\/span><\/p>\n [Answer:\u00a0 (300 + 80 + 200) = 580 units; <\/span><\/i><\/p>\n Rs (6,000 + 1,680 + 4,400) = Rs 12,080;<\/span><\/i><\/p>\n \u00a0<\/span><\/p>\n Here, Amount = Rs = $ = \u00a3 = \u20ac = <\/span>\u20b9<\/span> = Af = <\/span>\u09f3 <\/span>= Nu = Rf = <\/span>\u0dbb\u0dd4<\/span> = Currency of your country<\/span>\u00a0 <\/span><\/p>\n PROBLEM: 14 <\/span><\/b><\/p>\n AM Manufacturing has following store transactions for the month of December: <\/span><\/p>\n\n\n\n\n\n\n\n\n\n\n \n 1:<\/span><\/p>\n<\/td>\n \n Opening balance 500 units @ Rs 30 per unit<\/span><\/p>\n<\/td>\n<\/tr>\n \n 3:<\/span><\/p>\n<\/td>\n \n Issued 250 units <\/span><\/p>\n<\/td>\n<\/tr>\n \n 13:<\/span><\/p>\n<\/td>\n \n Received from AB Suppliers 200 units @Rs 28 per unit<\/span><\/p>\n<\/td>\n<\/tr>\n \n 14:<\/span><\/p>\n<\/td>\n \n Returned from department 15 units @ Rs 25 per unit of November <\/span><\/p>\n<\/td>\n<\/tr>\n \n 16:<\/span><\/p>\n<\/td>\n \n Issued 300 units <\/span><\/p>\n<\/td>\n<\/tr>\n \n 20:<\/span><\/p>\n<\/td>\n \n Received from MK Traders 250 units @Rs 26 per unit <\/span><\/p>\n<\/td>\n<\/tr>\n \n 22:<\/span><\/p>\n<\/td>\n \n Return to MK Traders 50 units<\/span><\/p>\n<\/td>\n<\/tr>\n \n 25:<\/span><\/p>\n<\/td>\n \n Issued 355 units <\/span><\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n Required:<\/span> Store ledger under last-in first-out method\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 <\/span><\/p>\n [Answer: 10 units, Rs 250;<\/span><\/i><\/p>\n \u00a0<\/span><\/p>\n Here, Amount = Rs = $ = \u00a3 = \u20ac = <\/span>\u20b9<\/span> = Af = <\/span>\u09f3 <\/span>= Nu = Rf = <\/span>\u0dbb\u0dd4<\/span> = Currency of your country<\/span>\u00a0 <\/span><\/p>\n PROBLEM: 15<\/span><\/b><\/p>\n Nepal Pencils Suppliers has following store ledger for the month of July: <\/span><\/p>\n\n\n\n\n\n\n\n\n\n\n\n\n\n \n Closing balance of last month June was 300 units @ Rs 2 per unit. Other transactions are: <\/span><\/p>\n<\/td>\n<\/tr>\n \n July, 1<\/span><\/p>\n<\/td>\n \n Purchased 200 units @ Rs 3 per unit<\/span><\/p>\n<\/td>\n<\/tr>\n \n July, 5<\/span><\/p>\n<\/td>\n \n Issued 300 units<\/span><\/p>\n<\/td>\n<\/tr>\n \n July, 10<\/span><\/p>\n<\/td>\n \n Purchased 700 units @ Rs 2 per unit<\/span><\/p>\n<\/td>\n<\/tr>\n \n July, 12<\/span><\/p>\n<\/td>\n \n Issued 200 units<\/span><\/p>\n<\/td>\n<\/tr>\n \n July, 12<\/span><\/p>\n<\/td>\n \n Returned to supplier 100 units from the lot of 10th<\/sup> July.<\/span><\/p>\n<\/td>\n<\/tr>\n \n July, 15<\/span><\/p>\n<\/td>\n \n Purchased 200 units @ Rs 3 per unit.<\/span><\/p>\n<\/td>\n<\/tr>\n \n July, 18<\/span><\/p>\n<\/td>\n \n Issued 100 units<\/span><\/p>\n<\/td>\n<\/tr>\n \n July, 22<\/span><\/p>\n<\/td>\n \n Issued 400 units<\/span><\/p>\n<\/td>\n<\/tr>\n \n July, 23<\/span><\/p>\n<\/td>\n \n Returned from work order 10 units from 18th<\/sup> July issued. <\/span><\/p>\n<\/td>\n<\/tr>\n \n July, 28<\/span><\/p>\n<\/td>\n \n Issued 300 units<\/span><\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n Required: Store ledger under LIFO method showing materials received, issued, and balance<\/span><\/p>\n [Answer: 10 units, Rs 20]<\/span><\/i><\/p>\n \u00a0<\/span><\/b>\u00a0<\/span><\/b><\/p>\n Mixed Problems<\/span><\/b><\/p>\n \u00a0<\/span><\/p>\n Here, Amount = Rs = $ = \u00a3 = \u20ac = <\/span>\u20b9<\/span> = Af = <\/span>\u09f3 <\/span>= Nu = Rf = <\/span>\u0dbb\u0dd4<\/span> = Currency of your country<\/span>\u00a0 <\/span><\/p>\n PROBLEM: 16<\/span><\/b><\/p>\n AM Manufacturing Company completes its production in three processes A, B and C. Other information related to materials are for the month of March 2020:\u00a0 <\/span><\/p>\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n \n Receipt:<\/span><\/b><\/p>\n<\/td>\n<\/tr>\n \n March,\u00a0\u00a0 1<\/span><\/p>\n<\/td>\n \n 1,500 units @ Rs 100<\/span><\/p>\n<\/td>\n<\/tr>\n \n 12<\/span><\/p>\n<\/td>\n \n 1,500 units @ Rs 115<\/span><\/p>\n<\/td>\n<\/tr>\n \n 21<\/span><\/p>\n<\/td>\n \n 1,200 units @ Rs 120<\/span><\/p>\n<\/td>\n<\/tr>\n \n Issued:<\/span><\/b><\/p>\n<\/td>\n<\/tr>\n \n March,\u00a0 7<\/span><\/p>\n<\/td>\n \n Issued\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 1,250 units<\/span><\/p>\n<\/td>\n<\/tr>\n \n 12<\/span><\/p>\n<\/td>\n \n Issued \u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 1,600 units<\/span><\/p>\n<\/td>\n<\/tr>\n \n 22<\/span><\/p>\n<\/td>\n \n Issued \u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 900 units <\/span><\/p>\n<\/td>\n<\/tr>\n \n Returned:<\/span><\/b><\/p>\n<\/td>\n<\/tr>\n \n March, 13<\/span><\/p>\n<\/td>\n \n Returned to vender 50 units from the lot of March 1\u00a0 <\/span><\/p>\n<\/td>\n<\/tr>\n \n 21<\/span><\/p>\n<\/td>\n \n Returned\u00a0 25 units from production department <\/span><\/p>\n<\/td>\n<\/tr>\n \n 25<\/span><\/p>\n<\/td>\n \n 500 units returned from department C to B<\/span><\/p>\n<\/td>\n<\/tr>\n \n Shortage: <\/span><\/b><\/p>\n<\/td>\n<\/tr>\n \n March, 30<\/span><\/p>\n<\/td>\n \n Stock verified and found shortage 10 units <\/span><\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n Required: Store ledger account under LIFO method<\/span><\/p>\n \u00a0[Answer: (125 + 290) = 415 units; <\/i><\/span><\/p>\n Rs (12,500 + 38,400) = Rs 50,900]<\/span><\/i><\/p>\n * No entry for returned from department C to B<\/span><\/i><\/p>\n \u00a0<\/span><\/p>\n Here, Amount = Rs = $ = \u00a3 = \u20ac = <\/span>\u20b9<\/span> = Af = <\/span>\u09f3 <\/span>= Nu = Rf = <\/span>\u0dbb\u0dd4<\/span> = Currency of your country<\/span>\u00a0 <\/span><\/p>\n PROBLEM: 17\u00a0<\/span><\/b><\/p>\n Birgunj Chemicals has following store transactions for the month of January:<\/span><\/p>\n\n\n\n\n\n\n\n\n\n\n\n\n \n January, 1<\/span><\/p>\n<\/td>\n \n Opening stock @ Rs 250 per unit<\/span><\/p>\n<\/td>\n \n 200 units<\/span><\/p>\n<\/td>\n<\/tr>\n \n 5<\/span><\/p>\n<\/td>\n \n Purchase of materials @ Rs 240 per unit <\/span><\/p>\n<\/td>\n \n 150 units<\/span><\/p>\n<\/td>\n<\/tr>\n \n 6<\/span><\/p>\n<\/td>\n \n Issued of materials\u00a0 <\/span><\/p>\n<\/td>\n \n 120 units<\/span><\/p>\n<\/td>\n<\/tr>\n \n 9<\/span><\/p>\n<\/td>\n \n Return to supplier due to defective goods<\/span><\/p>\n<\/td>\n \n 30 units <\/span><\/p>\n<\/td>\n<\/tr>\n \n 12<\/span><\/p>\n<\/td>\n \n Purchase of materials @ Rs 245 per unit<\/span><\/p>\n<\/td>\n \n 250 units <\/span><\/p>\n<\/td>\n<\/tr>\n \n 16<\/span><\/p>\n<\/td>\n \n Excess goods returned from works B to A<\/span><\/p>\n<\/td>\n \n 20 units <\/span><\/p>\n<\/td>\n<\/tr>\n \n 20<\/span><\/p>\n<\/td>\n \n Issued\u00a0 of materials<\/span><\/p>\n<\/td>\n \n 300 units <\/span><\/p>\n<\/td>\n<\/tr>\n \n 24<\/span><\/p>\n<\/td>\n \n Credit note in store verification <\/span><\/p>\n<\/td>\n \n 10 units <\/span><\/p>\n<\/td>\n<\/tr>\n \n 30<\/span><\/p>\n<\/td>\n \n Purchase of materials @ Rs 260 per unit <\/span><\/p>\n<\/td>\n \n 100 units<\/span><\/p>\n<\/td>\n<\/tr>\n \n 31<\/span><\/p>\n<\/td>\n \n Closing stock at the end<\/span><\/p>\n<\/td>\n \n ?<\/span><\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n Required<\/span>: Store ledger under LIFO method<\/span><\/p>\n [Answer: (140 + 100) = 240 units; <\/span><\/i><\/p>\n Rs (35,000 + 26,000) = Rs 61,000]<\/span><\/i><\/p>\n * Credit note in store verification means shortage<\/span><\/i><\/p>\n \u00a0<\/span><\/p>\n Here, Amount = Rs = $ = \u00a3 = \u20ac = <\/span>\u20b9<\/span> = Af = <\/span>\u09f3 <\/span>= Nu = Rf = <\/span>\u0dbb\u0dd4<\/span> = Currency of your country<\/span>\u00a0 <\/span><\/p>\n PROBLEM: 18\u00a0<\/span><\/b><\/p>\n JR Synthetics has following store transactions of inventory:<\/span><\/p>\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n \n June, 1<\/span><\/p>\n<\/td>\n \n Opening stock @ Rs 250 per unit<\/span><\/p>\n<\/td>\n \n 200 units<\/span><\/p>\n<\/td>\n<\/tr>\n \n 5<\/span><\/p>\n<\/td>\n \n Issued (materials requisition note No.85) <\/span><\/p>\n<\/td>\n \n 100 units<\/span><\/p>\n<\/td>\n<\/tr>\n \n 6<\/span><\/p>\n<\/td>\n \n Received from JK Suppliers RN 31 @ Rs 230 per unit<\/span><\/p>\n<\/td>\n \n 150 units<\/span><\/p>\n<\/td>\n<\/tr>\n \n 9<\/span><\/p>\n<\/td>\n \n Issued (materials requisition note No.85) <\/span><\/p>\n<\/td>\n \n 170 units <\/span><\/p>\n<\/td>\n<\/tr>\n \n 10<\/span><\/p>\n<\/td>\n \n Return to JK Suppliers<\/span><\/p>\n<\/td>\n \n 20 units<\/span><\/p>\n<\/td>\n<\/tr>\n \n 16<\/span><\/p>\n<\/td>\n \n Received from BC Company RN 32@ Rs 240 per unit<\/span><\/p>\n<\/td>\n \n 250 units <\/span><\/p>\n<\/td>\n<\/tr>\n \n 20<\/span><\/p>\n<\/td>\n \n Return from work order (material return note No.5)<\/span><\/p>\n<\/td>\n \n 40 units <\/span><\/p>\n<\/td>\n<\/tr>\n \n 22<\/span><\/p>\n<\/td>\n \n Issued (materials requisition note No. 87)<\/span><\/p>\n<\/td>\n \n 260 units <\/span><\/p>\n<\/td>\n<\/tr>\n \n 24<\/span><\/p>\n<\/td>\n \n Received replacement goods from JK Suppliers RN 31<\/span><\/p>\n<\/td>\n \n 20 units <\/span><\/p>\n<\/td>\n<\/tr>\n \n 26<\/span><\/p>\n<\/td>\n \n Debit note in store verification <\/span><\/p>\n<\/td>\n \n 10 units <\/span><\/p>\n<\/td>\n<\/tr>\n \n 28<\/span><\/p>\n<\/td>\n \n Issued (materials requisition note No. 88)<\/span><\/p>\n<\/td>\n \n 100 units<\/span><\/p>\n<\/td>\n<\/tr>\n \n 29<\/span><\/p>\n<\/td>\n \n Transfer from department\u00a0 A to department B<\/span><\/p>\n<\/td>\n \n 25 units<\/span><\/p>\n<\/td>\n<\/tr>\n \n 30<\/span><\/p>\n<\/td>\n \n Closing stock at the end<\/span><\/p>\n<\/td>\n \n ?<\/span><\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n Required<\/span>: Store ledger under FIFO method<\/span><\/p>\n [Answer: Closing stock: 20 units @ Rs 240 = Rs 4,800]<\/span><\/i><\/p>\n * Debit note in store verification means surplus<\/span><\/i><\/p>\n \u00a0<\/span><\/b><\/p>\n Here, Amount = Rs = $ = \u00a3 = \u20ac = <\/span>\u20b9<\/span> = Af = <\/span>\u09f3 <\/span>= Nu = Rf = <\/span>\u0dbb\u0dd4<\/span> = Currency of your country<\/span>\u00a0 <\/span><\/p>\n PROBLEM: 19<\/span><\/b><\/p>\n The following are the information in respect of receipt and issue of stores for the month of April:<\/span><\/p>\n\n\n\n\n\n\n\n\n\n\n\n\n \n April, 1<\/span><\/p>\n<\/td>\n \n Opening stock @ Rs 25 per unit<\/span><\/p>\n<\/td>\n \n 2,000 units<\/span><\/p>\n<\/td>\n<\/tr>\n \n 5<\/span><\/p>\n<\/td>\n \n Received (goods receipt note No. 25) @ Rs 30 per unit<\/span><\/p>\n<\/td>\n \n 2,500 units<\/span><\/p>\n<\/td>\n<\/tr>\n \n 10<\/span><\/p>\n<\/td>\n \n Issued (materials requisition Note No. 50) <\/span><\/p>\n<\/td>\n \n 2,500 units<\/span><\/p>\n<\/td>\n<\/tr>\n \n 12<\/span><\/p>\n<\/td>\n \n Return to suppliers due to defective goods <\/span><\/p>\n<\/td>\n \n 500 units <\/span><\/p>\n<\/td>\n<\/tr>\n \n 15<\/span><\/p>\n<\/td>\n \n Received (goods receipt note No. 26) @ Rs 20 per unit<\/span><\/p>\n<\/td>\n \n 2,500 units <\/span><\/p>\n<\/td>\n<\/tr>\n \n 20<\/span><\/p>\n<\/td>\n \n Return from work order (material return note No. 5)<\/span><\/p>\n<\/td>\n \n 50 units <\/span><\/p>\n<\/td>\n<\/tr>\n \n 25<\/span><\/p>\n<\/td>\n \n Issued (materials requisition note No. 51)<\/span><\/p>\n<\/td>\n \n 2,000 units <\/span><\/p>\n<\/td>\n<\/tr>\n \n 26<\/span><\/p>\n<\/td>\n \n Shortage in store verification <\/span><\/p>\n<\/td>\n \n 10 units <\/span><\/p>\n<\/td>\n<\/tr>\n \n 30<\/span><\/p>\n<\/td>\n \n Issued (materials requisition note No. 52)<\/span><\/p>\n<\/td>\n \n 1,540 units<\/span><\/p>\n<\/td>\n<\/tr>\n \n 30<\/span><\/p>\n<\/td>\n \n Goods transferred from work order B to C<\/span><\/p>\n<\/td>\n \n 300 units<\/span><\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n Required: Store ledger under FIFO method and LIFO method<\/span><\/p>\n [Answer: FIFO: 500 units and Rs 10,000; <\/span><\/i><\/p>\n LIFO: 500 units and Rs 12,500]<\/span><\/i><\/p>\n Here, Amount = Rs = $ = \u00a3 = \u20ac = <\/span>\u20b9<\/span> = Af = <\/span>\u09f3 <\/span>= Nu = Rf = <\/span>\u0dbb\u0dd4<\/span> = Currency of your country<\/span>\u00a0 <\/span><\/p>\n PROBLEM: 20\u00a0<\/span><\/b><\/p>\n ES Manufacturing Company has following information for the month of January:<\/span><\/p>\n\n\n\n\n\n\n\n\n\n\n\n \n Jan, \u00a0 1<\/span><\/p>\n<\/td>\n \n Opening balance of materials 1,500 kgs @ Rs 11,000 per quintal <\/span><\/p>\n<\/td>\n<\/tr>\n \n \u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 5<\/span><\/p>\n<\/td>\n \n Purchased 2,500 kgs @ Rs 12,000 per quintal <\/span><\/p>\n<\/td>\n<\/tr>\n \n \u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 <\/span>10<\/span><\/p>\n<\/td>\n \n Issued 2,700 kgs <\/span><\/p>\n<\/td>\n<\/tr>\n \n \u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 11<\/span><\/p>\n<\/td>\n \n transferred from department B to C 2,000 kgs<\/span><\/p>\n<\/td>\n<\/tr>\n \n \u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 15<\/span><\/p>\n<\/td>\n \n Issued 500 kgs.\u00a0\u00a0 <\/span><\/p>\n<\/td>\n<\/tr>\n \n \u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 20<\/span><\/p>\n<\/td>\n \n Purchased 2,500 kgs @ Rs 12,500 per quintal<\/span><\/p>\n<\/td>\n<\/tr>\n \n \u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 <\/span>25<\/span><\/p>\n<\/td>\n \n Issued 1,100 kgs.\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 <\/span><\/p>\n<\/td>\n<\/tr>\n \n \u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 28<\/span><\/p>\n<\/td>\n \n Stock verification found 50 kgs as excess and adjusted.<\/span><\/p>\n<\/td>\n<\/tr>\n \n \u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 31<\/span><\/p>\n<\/td>\n \n Purchased 500 kgs @ Rs 15,000 per quintal<\/span><\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n Required: Stock Ledger on the basis of FIFO method and LIFO method<\/span><\/p>\n [Answer: FIFO: (2,250 + 500) = 2,750 units; <\/span><\/i><\/p>\n Rs (281,250 + 75,000) = Rs 356,250]<\/span><\/i><\/p>\n LIFO: (800 + 1,450 + 500) = 2,750 units; <\/span><\/i><\/p>\n Rs (88,000 + 181,250 + 75,000) = Rs 344,250]<\/span><\/i><\/p>\n *Change per quintal into per kg by dividing 100 kg]<\/span><\/i><\/p>\n \u00a0<\/span><\/p>\n \u00a0<\/span><\/p>\n ***** #EP<\/span>Online<\/span>Study *****<\/span><\/p>\n Thank you for investing your time.<\/span><\/i><\/p>\n Please comment on the article.<\/span><\/i><\/p>\n You can help us by sharing this post on your social media platform.<\/span><\/i><\/p>\n \u00a0<\/span><\/p>\n Jay G<\/span>o<\/span>o<\/span>g<\/span>l<\/span>e<\/span>, Jay YouTube<\/span>, Jay Social Media<\/span><\/span><\/p>\n \u091c\u092f<\/span> \u0917\u0942<\/span>\u0917<\/span>\u0932<\/span>.<\/span> \u091c\u092f<\/span> \u092f\u0941\u091f\u094d\u092f\u0941\u092c<\/span>,<\/span> \u091c\u092f<\/span> \u0938\u094b\u0936\u0932<\/span> \u092e\u0940\u0921\u093f\u092f\u093e\u00a0<\/span><\/p>\n  <\/p>\n  <\/p>\n","protected":false},"excerpt":{"rendered":" \u00a0   Exam based problems and answers of FIFO and LIFO\u00a0 are the BEST collection for sure shot success in the examination. These questions are based on board exam. These questions are set in easy to difficult series. \u00a0 Pricing of Material Issue There are different methods for materials issue; some popular methods are: (a) […]<\/p>\n","protected":false},"author":19997,"featured_media":4526,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2090,11,117],"tags":[2372,2113,2374,2377,2375,2373,2114,2376],"writers":[144],"yoast_head":"\n