Prepare a store ledger account from the following information adopting the FIFO method of pricing of
Prepare a store ledger account from the following information adopting the FIFO method of pricing of issues of materials: 1 March Opening balance 500 tonne at Rs 200 3 Issued 70 tonne 4 Issued 100 tonne 8 Issued 80 tonne 13 Received from supplier 200 tonne at Rs 190 14 Returned from department A 15 tonne 16 Issued 180 tonne 20 Received from supplier 240 tonne at Rs 195 24 Issued 300 tonne 25 Received from supplier 320 tonne at Rs 200 26 Issued 115 tonne 27 Returned from department B 35 tonne 28 Received from supplier 100 tonne at Rs 200 Hint: Returns from departments on 14 and 27 March are to be assumed out of the immediate preceding issue since no details are given.