Illustration: Homework3 From the following transaction prepares stores ledger account using FIFO& LIFO Method: 2016 Receipts 2016 Issues July 1 opening balance 2000 units @Rs10 July 3 SRN 160 800unit July 4 purchases GRN 75 July 8 purchases GRN 82 July 15 purchases GRN 91 July 16 purchases GRN 93 July 18 purchases GRN 96 July 24 purchases GRN 112 3000units @Rs11 July 6 SRN 168 1500unit 2500units @Rs13 July 11SRN 181 1700unit 1500units @Rs15 1000units @Rs16 1200units @Rs17 4000units @Rs19 July 13 SRN 187 1200unit July 17 SRN 194 1800unit July 19 SRN 197 2200unit July 21 SRN 201 500unit July 27 SRN 210 2900unit