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Kindly provide an answer asap and with an explanation The following is a summary of all the receipts and issues of materials from the stores

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Kindly provide an answer asap and with an explanation

The following is a summary of all the receipts and issues of materials from the stores during the month of December, 2019: 1st Dec. Opening Balance 500 units at Rs 40 per unit 3rd Dec. Issued 100 units 4th Dec. Issued 150 units 13th Dec. Received from supplier 350 units at Rs 44 per unit 16th Dec. Issued 250 units 20th Dec. Received from supplier 150 units at Rs.50 per unit 26th Dec. Shortages 10 units 28th Dec. Received from supplier 100 units at Rs 23 per unit You are required to prepare a stores ledger to record the above transactions using the 'First in First out' method

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