Question
Babatunde and Sons enterprise uses a metal as its main component for its production purposes. The following information below relates to the component used in
Babatunde and Sons enterprise uses a metal as its main component for its production purposes. The following information below relates to the component used in the first quarter of the year 2020. UNITS TOTAL COST GHS Inventory at hand 4,000 200,000 Purchases: January 8,000 400,000 February 6,000 360,000 March 10,000 500,000 April 2, 000 80,000 Issues made during the period: January 5,000 February 2,000 March 3,000 April 3,500 You are required to show the appropriate stores ledger account disclosing the cost of each issue and the cost of closing stock as at 30th April using the allowed methods by IAS 2.
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