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.