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cost accounting 1 Q7. The new productive undertaking purchased from time to time quantities of commodities used in production of one of its product, the
cost accounting 1
Q7. The new productive undertaking purchased from time to time quantities of commodities used in production of one of its product, the following details are available regarding the stock of materials and its movement during the three Month period from June, July and August. There was no Opening stock for the month of June. Purchases done on 2 June 250 units @ 14 per unit, 8 June 175 units @16 per unit, 17 June 225 units @15 per unit, 25 June 300 units @ 13 per unit, 30 June 150 Units @ 14 per unit and Issues were made on 10 June 260 units, 20 June 190 Units, 23 June 70 units, 27 June 250 units and 29 June 65 Units. Stock on 1" July 150 units' @OMR 22 per unit On July 4, Purchased 320 units OMR 30 July 12,Purchased 215 units @OMR 35, July 15, Purchased 200 units @ OMR 40, July 28 ,Purchased 200 units @OMR 47, July 5, Issued 225 Units, July 14, Issued 190 units, July 20, Issued 200 units, July 25, Issued 250 units, July 30, Issued 90 units. Stock on 15 August 130 units @ OMR 47 per unit and Purchases done on 5 August 200 units @ 52 per unit, 9 August 150 units @54 per unit, 17 August 225 units @ 53 per unit, 26 August 300 units @ 49 per unit and Issues were made on 7th August 225 units, 10 August 200 units and 19 August 150 units. a. You are required to prepare stock register using Simple Average Method for the Period of June.(4.5 Marks) b. You are required to write the highest and lowest issue price with dates and find out the difference in both the prices. (0.5 Marks) Step by Step Solution
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