From the following information, show the stores ledger account on LIFO method: Issued to manufacturing department as

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From the following information, show the stores ledger account on LIFO method:

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Issued to manufacturing department as follows:
On 15 June stock verifi cation received a shortage of 8kg. The maximum level is 1,400 kg. Minimum level is 650 kg. At the end of the month, stock verifi cation revealed that there is a surplus of 2 kg.

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Cost Accounting

ISBN: 9788131732076

1st Edition

Authors: V. Rajasekaran, R. Lalitha

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Question Posted: Jun 12, 2024 10:13 AM

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From the following information, show the stores ledger account on LIFO method: Issued to manufacturing department as

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June 1. Opening stock 800 kg @ Rs. 10 each 4. Purchased 250 kg @ Rs. 9 each 12. Purchased 400 kg @ Rs. 10 each 16. Purchased 600 kg @ Rs. 10.50 each 23. Purchased 300 kg @ Rs. 11. each

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Cost Accounting

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