In the beginning of October 1994, Bangalore Tin Co. had 10,000 lb of tin at Rs 2 per lb. Further purchases were made during the month as follows:

The issues to manufacture were as follows:

Write the stores ledger cards with the aforementioned transactions based on both the FIFO and LIFO methods. What will be the value of closing stock in each case?

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4 October 10 October 20 October 2,000 lb at Rs 2.50 per lb 6,000 lb, at Rs 2.00 per lb 10,000 lb at Rs 3.50 per lb