A Limited uses material L and the following were the transaction that occurred during the period of December 2012.

Purchases

Date of purchase Quantity purchase Price/Unit

December kg GHS

3 400 250

9 300 200

10 150 300

18 100 350

Issued

December Quantity issued

4 200

11 400

20 250

On 1^st December 2012, material balance in store was valued at GHS 200 made up of 100kg.

Required:

Prepare a store ledger using the FIFO and LIFO and WEIGHTED AVERAGE basis of stock valuation stating clearly the value of the closing stock.