4. J.K Manufacturing Ltd., a small computer manufacturer and record inventory through the Perpatual Inventory system. The 4525T CMOS Convention Movement for November is:

a / Show how to record this stock in Store record using:

FIFO costing

Weighted Average Costing

b / Introduce the seal in the form of a general journal (General Journal)

1 - Sept Balance On Hand 60 at 1.90 each 8 - Sept Purchase 240 at $2 each 14- Sept Issue 100 to Production line $ 114 $ 480 20 Issued 80 to Production line 22 26 20 Returned to store as excess material Purchase 100 at $2.2 each $220 Return 20 to Supplier (Purchased on 26 sept) 29