The following receipts and issues were made for a material during the month of May 1993:

Assume that base stock is 200 units out of the opening stock; use FIFO method.

Hint: Base stock of 200 units at Rs 4.50 out of the opening stock should always be a part of the stock and should not be issued.

Transcribed Image Text:

Receipts 1 May 1993 Balance of stock 7 May 1993 15 May 1993 Purchases Purchases 23 May 1993 Issues Purchases 3 May 1993 Issued 200 units 8 May 1993 Issued 100 units 17 May 1993 Issued 700 units 26 May 1993 Issued 700 units 500 units at Rs 4.50 per unit 400 units at Rs 5.00 per unit 1,000 units at Rs 5.50 per unit 700 units at Rs 4.80 per unit