Illustration 2 From the following information, prepare Store Ledger using First In First Out [FIFO] Method of pricing the issues January 1st: Balance in hand 2000 units @ $2 each. January 15th: Received 1000 units costing $3,000 January 20th: Issued 2500 units January 22th: Received 2000 units costing $2,000 January 25th: Issued 2000 units January 27th: Received 1,000 units costing $2,000 January 30th: Issued 1000 units. Solution Date Particulars Ref. No. Receipts Issue Balance Qty. Rate Amount Qty. Rate Amount Qty. Rate Amount