The following is a summary of the receipts and issue of materials in a factory during January. January
1 Opening balance 500 units @ Rs. 25 per unit
3 Issue 70 units
4 Issue 100 units
8 Issue 80 units
13 Received from supplier 200 units @ Rs. 24.50 per unit
14 Returned to store 15 units @ Rs. 24 per unit
16 Issue 180 units
20 Received from supplier 240 units @ Rs. 24.75 per unit
24 Issue 304 units
25 Received from supplier 320 units @ Rs. 24.50 per unit
26 Issue 112 units
27 Returned to store 12 units @ Rs. 24.50 per unit
28 Received from supplier 100 units @ Rs. 25 per unit

Work out on the basis of First-in, First-out. This revealed that on the 15th there was a shortage of five units and another on the 27th of eight units.