>> 4 Problem 4.2 purchased from the market as and when necessary. Following purchases and issues were made American Manufacturing Company uses copper wire which is during the month of January 2019: January 1 Opening balance 300 kgs. at $25 per kg. 3 Purchased 500 kgs. at $26.60 per kg. (Purchase Order No. 101) Issued 220 kgs. (Material Requisition No. 201). 10 Issued 440 kgs. (Material Requisition No. 202). 20 Purchased 490 kgs. at $ 23 per kg. (Purchase Order No. 102). 25 Issued 300 kgs. (Material Requisition No. 203). 26 Surplus 20 kgs. returned to store out of quantity issued on 4th January (Material Returned Note No. 20) Prepare Stores Ledger Account for the above transactions according to LIFO method of pricing issue of materials. 19 >>